ForceField Energy Inc (NASDAQ: FNRG) Investor Securities Class Action Lawsuit 04/17/2015

You must submit the settlement "Proof" form attached below, in order to participate in this settlement. There is a strict deadline of December 5, 2017 by which all claims must be submitted. The instructions for submitting are included in the "Proof" and the "Notice" files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, FOLLOW THE DIRECTIONS IN THE "PROOF".

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Company Name(s): 
ForceField Energy
Case Name: 
ForceField Energy Shareholder Class Action Lawsuit 04/17/2015
Case Status: 
Lawsuit Filed
Case Status: 
Settlement Proposed
Affected Securities
NASDAQ: FNRG
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
04/17/2015
Class Period Begin: 
08/20/2013
Class Period End: 
04/20/2015
Court of Filing: 
U.S. District Court for the Southern District of New York
Deadline To File for Lead: 
06/16/2015
Date Settled: 
09/26/2017
Settlement Amount: 
$414,500
Deadline to Participate in Settlement: 
12/05/2017
Summary: 

The settlement amount consists of:
- $414,500 (settlement amount)
- additional settlement amount, the existence and amount of which is contingent on specific factors, in an amount not more than $131,636

September 26, 2017 - The court preliminarily approved the settlement.

July 26, 2017 - Parties filed a stipulation of settlement.

June 27, 2016 - Defendants filed a motion to dismiss.

May 23, 2016 - The lead plaintiff filed a third amended complaint.

December 9, 2015 - Defendants filed a motion to dismiss.

October 30, 2015 - The lead plaintiff filed a second amended complaint.

August 21, 2015 - The lead plaintiff filed an amended complaint.

July 22, 2015 - Lead plaintiff and interim lead counsel were appointed and all cases were consolidated.

June 16, 2015 - Lead plaintiff motions were filed.

April 17, 2015 - An investor in shares of ForceField Energy Inc (NASDAQ: FNRG) filed a lawsuit in the U.S. District Court for the District Court for the Southern District of New York over alleged violations of Federal Securities Laws by ForceField Energy Inc in connection with certain allegedly false and misleading statements made between September 16, 2013 and April 15, 2015.

According to the complaint the plaintiff alleges on behalf of purchasers of ForceField Energy Inc (NASDAQ: FNRG) common shares between September 16, 2013 and April 15, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that Defendants allegedly falsely stated and/or failed to disclose that articles issued by independent authors touting ForceField Energy Inc were in fact paid promoters hired by the Company, that ForceField Energy’s management reviewed these so-called independent articles before publication, and that members of ForceField Energy’s management have troubling histories with fraudulent companies.

On April 15, 2015, a report was publish which alleged that "ForceField was a paid Dream Team promotion which was written about by both Tom Meyer (multiple aliases including Wonderful Wizard and others) and John Mylant. These were the two main Dream Team writers. Their articles have since been removed from Seeking Alpha, but the original references can still be found in various places. In addition, ForceField is listed here among the other Dream Team clients on the Investors Hub page for Mission IR. Mission IR was the Dream Team subsidiary responsible for handling the paid articles."