6D Global Technologies, Inc. (f/k/a CleanTech Innovations, Inc. ) Securities Litigation
On or around 09/07/2018 (Ongoing date of last review)
Filing Date: October 13, 2015
According to the law firm press release, the lawsuit alleges throughout the Class Period, Defendants issued materially false and misleading statements to investors and/or failed to disclose that: (1) the Company had deficient internal controls, (2) the lack of internal controls allowed Defendant to exert influence and control over the Company, (3) the Company was engaged in improper and undisclosed material related party transactions, (4) Defendants were engaged in a scheme to manipulate the Company’s stock price, and (5) as a result, the Company’s public statements were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Plaintiffs filed an amended Complaint on March 23, 2016. This was followed by a second amended Complaint on April 4.
On March 6, 2017, the Court issued an Order granting Defendant's Motion to Dismiss with prejudice. Lead Plaintiffs filed a Notice appealing this decision on April 3. On August 2, 2018, the Court of Appeals issued a summary Order reversing in part the decision of the District Court and remanding for proceedings consistent with their opinion.
Company & Securities Information
Defendant: 6D Global Technologies, Inc.
Industry: Business Services
Headquarters: United States
Ticker Symbol: SIXD
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Sixto Castillo, IV, et al. v. 6D Global Technologies, Inc., et al.