BOSTON, Dec. 16, 2015 (GLOBE NEWSWIRE) -- Gilman Law LLP announces that a class action lawsuit has been filed against 6D Global Technologies, Inc. ("6D Global" or the "Company") (NASDAQ:SIXD), its alleged controlling shareholder, Benjamin Wei, and certain officers and directors of the Company.
The Complaint was brought on behalf of a class of shareholders of 6D Global or its predecessor, CleanTech Innovations, Inc. (NASDAQ:CTEK), and alleges that the named Defendants issued materially false and misleading statements to investors and/or failed to disclose that: (1) the Company had deficient internal controls that allowed Benjamin Wei to exert improper influence and control over the Company, (2) the Company was engaged in improper and undisclosed material related party transactions, and (3) Defendants were engaged in a scheme to manipulate the Company's stock price.
On September 8, 2015, the Department of Justice indicted Wei, the founder of New York Global Group, for securities fraud. On September 10, 2015, the Securities and Exchange Commission filed a civil action against Wei and New York Global Group for their roles in the alleged fraudulent scheme to obtain and profit from undisclosed, controlling ownership interests in several U.S. companies, including 6D Global.
Following these events, NASDAQ halted trading in 6D Global on September 10, 2015.
If you are an investor who purchased or acquired and still owns 6D Global common stock and suffered a loss then please contact Gilman Law LLP today, at 1-888-252-0048 or http://www.investment-losses.com, to ensure your legal rights are not forfeited.
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Gilman Law LLP, a leading financial law firm, has been recognized for delivering successful results to their clients across a broad range of claims stemming from securities class actions and derivative actions. For over 35 years, the Gilman Law LLP team of highly experienced lawyers has earned renown for tireless work on behalf of their clients on many of today's most challenging and important legal issues.