NEW YORK, April 21, 2015 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of ForceField Energy Inc. ("ForceField" or the "Company") (NASDAQ: FNRG), concerning whether the board has breached its fiduciary duties to shareholders.
On April 20, 2015, it was reported that Richard St-Julien ("St-Julien"), former chairman of ForceField was arrested and had resigned as chairman. St-Julien was charged for his role in a scheme to boost the Company's share price using secret payments to conspirators through a Belize-based firm. St-Julien was arrested for securities fraud in Florida as he attempted to board a flight to Costa Rica. ForceField's stock fell more than 20% before trading was halted on the news.
According to an article published by Business Insider, trading in ForceField stock will be halted for at least the next "couple" of weeks.
Our investigation concerns whether positive articles about ForceField published online were actually undisclosed paid stock promotion on behalf of the Company. We are also investigating whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.
If you own ForceField shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq.
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
Email: [email protected]
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Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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SOURCE Harwood Feffer LLP