NEW YORK, NY / ACCESSWIRE / May 15, 2017 / Pomerantz LLP is investigating claims on behalf of investors of Pingtan Marine Enterprise Ltd. ("Pingtan" or the "Company") (NASDAQ: PME). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether Pingtan and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On May 10, 2017, an analyst published a report asserting that Pingtan had concealed its involvement in, among other activities, forced labor, illegal fishing, and human trafficking schemes.
On this news, Pingtan's share price has fallen as much as $1.80, or 43.8%, during intraday trading on May 10, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
SOURCE: Pomerantz LLP
