SAN FRANCISCO, June 16, 2017 /PRNewswire/ -- Hagens Berman Sobol Shapiro LLP alerts investors in Sky Solar Holdings, Ltd. (NASDAQ: SKYS) to the firm's investigation into possible securities law violations by current or former senior executives.
If you purchased or otherwise acquired securities of SKYS before June 15, 2017 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
or contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing SKYS@hbsslaw.com.
On June 13, 2017, Sky Solar announced in a press release that its management committee intends to recommend to its board of directors that it form a committee to investigate certain conduct of its former Chief Executive Officer (Weili Su). In response to this news, trading was halted.
On June 15, 2017, Sky Solar announced in a press release that it expects to establish a committee consisting of independent directors in the next two to three days to investigate the conduct of Weili Su. "The conduct subject to the investigation involved certain transactions and fund transfers which appear to lack proper board and audit committee authorizations." This news drove the price of Sky Solar securities down over 10% during intraday trading.
"We're focused on events as they unfold and certainly on how Mr. Su's and perhaps others' conduct has damaged investors," said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding SKYS should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email SKYS@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 510-725-3000
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SOURCE Hagens Berman Sobol Shapiro LLP