LOS ANGELES, June 21, 2017 (GLOBE NEWSWIRE) — Goldberg Law PC, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Sky Solar Holdings, Ltd. (“Sky Solar” or the “Company”) (Nasdaq:SKYS) for violations of §§11 and 15 of the Securities Act of 1933, and §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company’s shares (1) pursuant and/or traceable to its initial public offering on or about November 18, 2014 (the “IPO”); and/or (2) on the open market between November 14, 2014 and June 12, 2017, inclusive (the “Class Period”), are encouraged to contact the firm before August 15, 2017, the lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, click here to participate.
We also encourage you to contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights free of charge. You can also reach us through the firm’s website at http://www.goldberglawpc.com/, or by email at [email protected].
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Complaint alleges that during the Class Period, Sky Solar made materially false and misleading public statements about its business, operations and compliance policies. On June 6, 2017, the Company announced that its CEO Mr. Weili Su would “no longer serve as the Company’s Chief Executive Officer, or as director, officer, manager, legal representative or in any other management position of the Company’s subsidiaries or any other consolidated entities.” On June 13, 2017, Sky Solar announced that its Management Committee intends to recommend that the board of directors form a committee of independent directors to investigate Mr. Su’s conduct and to recommend further action, in order to provide greater transparency to shareholders. Following this news, the trading of the Company’s shares was temporarily halted. On June 15, 2017, when trading resumed, Sky Solar’s share price dropped materially, which caused investors harm. On the same day, the Company revealed that the investigation will focus on certain transactions and fund transfers made by Mr. Su, which appear to have lacked proper board and audit committee authorizations.
Goldberg Law PC represents investors around the world, and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT: Contact: Goldberg Law PC, Los Angeles Michael Goldberg, Esq., 800-977-7401 Brian Schall, Esq., 800-977-7401 Sohrab Izadi, Esq., 800-977-7401 Sherin Mahdavian, Esq., 800-977-7401 [email protected] www.Goldberglawpc.com