Hongli Clean Energy Technologies Corp. ("Hongli" or the Company) operates as a coal and coke producer. The Company offers raw and washed coal, coal slurries, coke, and crude benzol.

According to the law firm press release, the lawsuit alleges that 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. When the true details entered the market, the lawsuit claims that investors suffered damages.

On September 8, 2017, the Court issued an Order consolidating cases.

On November 21, 2017, the Court appointed Lead Plaintiffs and Counsel. Lead Plaintiffs voluntarily dismissed this case on June 3, 2019.