NEW YORK, Oct. 14, 2015 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC Notifies investors that a securities class action has been filed in the United States District Court for the Southern District of New York on behalf of those who purchased securities of 6D Global Technologies, Inc. ("6D" or the "Company") (NasdaqCM: SIXD) or its predecessor CleanTech Innovations, Inc. (NASDAQ: CTEK), during the period between November 3, 2010 and September 10, 2015 inclusive. (the "Class Period").
According to the Complaint, throughout the Class Period, Defendants issued materially false and misleading statements to investors and/or failed to disclose that: (1) the Company had deficient internal controls, (2) the lack of internal controls allowed Defendant Benjamin Wei to exert influence and control over the Company, (3) the Company was engaged in improper and undisclosed material related party transactions, (4) Defendants were engaged in a scheme to manipulate the Company's stock price, and (5) as a result, the Company's public statements were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On September 8, 2015, the Department of Justice ("DOJ") indicted Benjamin Wei, the founder of New York Global Group, for securities fraud. Then on September 10, 2015, the DOJ arrested Wei and the Securities and Exchange Commission filed a civil action against Wei, New York Global Group for their roles in the fraudulent scheme to obtain and profit from undisclosed, controlling ownership interests in several U.S. companies spawned via "reverse Chinese mergers," including 6D Global Technologies, that were secretly controlled by Wei and NYGG.
Following this news, Nasdaq halted trading in 6D Global Technologies on September 10, 2015.
No Class has yet been certified in the above action. If you wish to review a copy of the Complaint, to discuss this action, or have any questions, please contact Peretz Bronstein, Esq. or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email [email protected]. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. If you suffered a loss in 6D, you have until December 14, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman 212-697-6484
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