NEW YORK, May 10, 2017 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Pingtan Marine Enterprise Ltd. ("Pingtan" or the "Company") (NASDAQ: PME).
The investigation focuses on whether the Company and its executives violated federal securities laws. Specifically, during intraday trading on May 10, 2017, Aurelius Value published a research report claiming that the Company "has engaged in fraudulent and illegal activities that conceal the reality that its shares likely have zero value." Among the accusations, the report mentions that the Company's fishing base has been investigated by the armed forces and government of Indonesia for forgery and forced labor.
After the publication of this report, the company's stock price has declined as much as 33% from its closing price on May 9, 2017.
If you invested in Pingtan stock or options and would like to discuss your legal rights, click here: www.faruqilaw.com/PME. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com.
FARUQI & FARUQI, LLP
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New York, NY 10017
Attn: Richard Gonnello, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
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