STEVENSON, Md., Dec. 03, 2015 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of 6D Global Technologies, Inc. (Nasdaq: SIXD ) or its predecessor CleanTech Innovations, Inc. (Nasdaq: CTEK ) (“6D” or the “Company”) securities during the period between November 3, 2010 and September 10, 2015, inclusive (the “Class Period”). Investors who wish to become proactively involved in the litigation have until December 14, 2015 to seek appointment as lead plaintiff.
If you have suffered a loss from investment in 6D securities purchased on or after November 3, 2010 and held through the revelation of negative information during and/or at the end of the Class Period, as described below, and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html . You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616. No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Company securities during the Class Period. Brower Piven also encourages anyone with information regarding the Company’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that the Company’s lack of internal controls allowed Defendant and Company founder Benjamin Wei (“Wei”) to exert influence and control over the Company, that the Company engaged in improper and undisclosed material related party transactions and that Defendants were engaged in a scheme to manipulate the Company’s stock price.
According to the complaint, following the September 8, 2015 indictment and September 10, 2015 arrest of Wei for securities fraud and the September 10 filing by the Securities and Exchange Commission of a civil action against Wei and New York Global Group (“NYGG”) for their roles in the fraudulent scheme to obtain and profit from undisclosed, controlling ownership interests in several U.S. companies spawned via reverse mergers, including 6D Global Technologies, which were secretly controlled by Wei and NYGG, trading in 6D Global Technologies was halted.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
CONTACT: CONTACT: Charles J. Piven Brower Piven, A Professional Corporation 1925 Old Valley Road Stevenson, Maryland 21153 Telephone: 410-415-6616 hoffman@browerpiven.com
