The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of investors who purchased Hongli Clean Energy Technologies Corp. (NASDAQ : CETC) securities between October 13, 2015 and April 7, 2017.
According to the complaint, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Hongli did not properly record the impairment of its assets; and (2) as a result, Hongli’s public statements were materially false and misleading at all relevant times. On April 21, 2017, Hongli revealed that it 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, however, Hongli disclosed that KSP believed a disagreement did exist at the time Hongli dismissed it.
If you suffered a loss in Hongli Clean Energy Technologies Corp. you have until July 7, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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