WAYNE, Pa., April 21, 2015 /PRNewswire/ -- Ryan &
Maniskas, LLP that a class action lawsuit has been filed in United
States District Court for the Southern District of New York on behalf of all persons or entities
that purchased the common stock of ForceField Energy Inc.
("ForceField" or the "Company") (NASDAQ: FNRG) between September 16, 2013 and April 15, 2015, (inclusive (the "Class
Period").
ForceField shareholders may, no later than June 16, 2015, move the Court for appointment as
a lead plaintiff of the Class. If you purchased shares of
ForceField and would like to learn more about these claims or if
you wish to discuss these matters and have any questions concerning
this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877)
316-3218 or to sign up online, visit:
www.rmclasslaw.com/cases/fnrg.
ForceField purports to design, distribute, and license
alternative energy products and technologies in China and the United
States. ForceField is a distributor of light emitting diode
("LED") and other lighting products for a number of premier LED
lighting manufacturers.
The Complaint alleges that the Company failed to disclose that
members of its management team have substantial connections to
public companies that have been scrutinized for fraudulent or
illegal activity. When this information was revealed on
April 15, 2015, the price of the
Company's shares declined by $2.97,
to close at $4.74 per share on
April 16, 2015. Ultimately, the
Company's stock price fell below $3.15 by April 20,
2015.
According to the Complaint, Defendants falsely stated and/or
failed to disclose that: (1) articles issued by independent authors
touting the Company were in fact paid promoters hired by the
Company; (2) ForceField's management reviewed these so-called
independent articles before publication; and (3) members of
ForceField's management have disturbing histories with fraudulent
companies.
On April 20, 2015, a Bloomberg
article reported that Richard
St-Julien ("St-Julien"), former chairman of ForceField, "was
arrested and had resigned as chairman." St-Julien "was charged with
scheming to boost the company's share price using secret payments"
to conspirators through a Belize-based firm. ForceField's stock
was halted on April 20, 2015 and is
currently down nearly 60% from its close on April 14, 2015.
If you are a member of the class, you may, no later than
June 16, 2015, request that the Court
appoint you as lead plaintiff of the class. A lead plaintiff
is a representative party that acts on behalf of other class
members in directing the litigation. In order to be appointed
lead plaintiff, the Court must determine that the class member's
claim is typical of the claims of other class members, and that the
class member will adequately represent the class. Under
certain circumstances, one or more class members may together serve
as "lead plaintiff." Your ability to share in any recovery is
not, however, affected by the decision whether or not to serve as a
lead plaintiff. You may retain Ryan & Maniskas, LLP or
other counsel of your choice, to serve as your counsel in this
action.
For more information regarding this, please contact Ryan &
Maniskas, LLP (Richard A. Maniskas,
Esquire) toll-free at (877) 316-3218 or by email at
rmaniskas@rmclasslaw.com or visit:
www.rmclasslaw.com/cases/fnrg. For more information about
class action cases in general or to learn more about Ryan &
Maniskas, LLP, please visit our website: www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation
firm. Ryan & Maniskas, LLP is devoted to protecting the
interests of individual and institutional investors in shareholder
actions in state and federal courts nationwide.
CONTACT: Ryan & Maniskas, LLP
Richard A. Maniskas, Esquire
995 Old
Eagle School Rd., Suite 311
Wayne, PA
19087
484-588-5516
877-316-3218
www.rmclasslaw.com/cases/fnrg
rmaniskas@rmclasslaw.com
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SOURCE Ryan & Maniskas, LLP