OKLAHOMA CITY--(BUSINESS WIRE)--The law firm of Federman & Sherwood has initiated an investigation into Cemtrex, Inc. (NASDAQ: CETX) with respect to possible violations of federal securities laws.
Cemtrex, Inc. (“CETX”), provides electronic manufacturing services of electric system assemblies, instruments and emission monitors for industrial processes, and industrial air filtration and environmental control systems worldwide and is headquartered in Farmingdale, New York. Federman & Sherwood’s investigation focuses on disclosures made by CETX and whether certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On February 22, 2017, Seeking Alpha published an article on Cemtrex revealing that over $1 million has been paid to notorious stock promoters to promote Cemtrex, Cemtrex’s founder Aron Govil is secretly paying promoters behind imploded frauds like Forcefield Energy and Code Rebel via an undisclosed entity and insiders of Cemtrex have been heavily selling shares during the paid promotion without disclosing them. On this news, shares of Cemtrex fell sharply during intraday trading on February 22, 2017.
If you purchased Cemtrex, Inc. securities and have information to assist in our investigation, or, have any questions or concerns regarding this notice or preservation of your rights, please contact our office. Federman & Sherwood has extensive nationwide experience in representing investors in securities, derivative and merger-related shareholder class actions, and has been appointed as lead counsel in multiple complex cases.