NEW YORK, Oct. 19, 2015 (GLOBE NEWSWIRE) — Stull, Stull & Brody (“SS&B”) announces that a class action lawsuit was commenced in the United States District Court for the Southern District of New York on behalf of persons who purchased or acquired the shares of 6D Global Technologies, Inc. (“6D” or the “Company”) (NASDAQ:SIXD) between November 3, 2010 and September 10, 2015, inclusive (the “Class Period”).
If you purchased 6D securities during the Class Period you may move the Court to serve as lead plaintiff by no later than December 14, 2015. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.
SS&B is also investigating whether allegations in the class action were also breaches of fiduciary duties by the officers and directors of 6D. An action for breaches of fiduciary duty can be brought as a derivative action by a shareholder who held Company stock at the start of the Class Period and who continues to hold Company stock until the derivative action has concluded.
The complaint alleges defendants violated securities laws because deficient internal controls at 6D allowed Benjamin Wei to exert undue influence over the Company, because of improper and undisclosed material related party transactions entered into by the Company, and; because the Company’s stock price was manipulated. The complaint also alleges that 6D’s stock fell after the truth emerged.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Michael J. Klein, Esq. at Stull, Stull & Brody by e-mail at [email protected], by calling toll-free 1-800-337-4983 x147, or by fax at 212/490-2022, or by writing to Stull, Stull & Brody, 6 East 45th Street, New York, NY 10017. You can also visit our website at www.ssbny.com.
Stull, Stull & Brody has litigated many class actions for violations of securities laws and breaches of fiduciary duty on behalf of defrauded investors over the past 40 years and has obtained court approval of substantial settlements on numerous occasions. Stull, Stull & Brody has offices in New York and Beverly Hills. The Stull, Stull & Brody website (www.ssbny.com) has additional information about the firm.
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