NEW YORK--(BUSINESS WIRE)--Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Sky Solar Holdings, Ltd. (“Sky Solar” or the “Company”) (NASDAQ:SKYS).
The investigation focuses on whether the Company and its executives violated federal securities laws. Specifically, on June 13, 2017, the Company announced that after reviewing conduct of its former Chief Executive Officer, Mr. Weili Su (the “Former CEO”), its Management Committee intends to recommend that the Company’s board of directors form a committee to investigate its Former CEO.
Then on June 15, 2017, the Company announced, in part, that the investigation concerns “certain transactions and fund transfers which appear to lack proper board and audit committee authorizations” and that the Company is “evaluating the potential impact of these transactions and fund transfers.”
Subsequently on June 16, 2017, the Company announced, among other things, that on June 15, 2017 the Company established an independent committee to investigate the conduct of its Former CEO.
On these announcements, Sky Solar’s share price has significantly declined, causing harm to investors.
If you invested in Sky Solar stock or options and would like to discuss your legal rights, click here: www.faruqilaw.com/SKYS. There is no cost or obligation to you.
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