NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Hongli Clean Energy Technologies Corp. (NASDAQ:CETC) resulting from allegations that Hongli may have issued materially misleading business information to the investing public.
On April 7, 2017, Nasdaq halted the trading of Hongli’s securities, effective 12:15pm on April 10, 2017, for “additional information requested” from Hongli. On April 21, 2017, Hongli disclosed that it had dismissed KSP Group, Inc. (“KSP”) as its independent auditor and stated that KSP had no disagreements with Hongli as to its accounting practices. On April 26, 2017, Hongli disclosed that KSP believed a disagreement really did exist at the time Hongli dismissed it. KSP had disagreed with the timing and manner in which Hongli valued a substantial amount of assets on its balance sheet.
As a result of Nasdaq halting trading, Hongli’s shareholders have suffered damages.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Hongli investors. If you purchased shares of Hongli on or before April 10, 2017, please visit the firm’s website at http://www.rosenlegal.com/cases-1121.html for more information. You may also contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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