October 09, 2015 (Shareholders Foundation) - An investigation on behalf of investors of 6D Global Technologies Inc (NASDAQ:SIXD) shares over potential securities laws violations by 6D Global Technologies and certain of its directors and officers in connection certain financial statements was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of 6D Global Technologies Inc (NASDAQ:SIXD) concerning whether a series of statements by 6D Global Technologies regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
6D Global Technologies Inc reported that its annual Total Revenue rose from $4.82 million in 2012 to $11.80 million in 2014 and that its Net Loss of $7.30 million in 2012 turned in a Net Income of $0.47 million in 2014
On September 8, 2015, the DOJ indicted the CEO of New York Global Group, Benjamin Wey, on charges of securities fraud, stock manipulation, money laundering, and wire fraud. Then two days later Benjamin Wey was arrested and the SEC filed a civil action against him, New York Global Group, and certain other defendants for their roles in an alleged fraudulent scheme to obtain and profit from undisclosed, controlling ownership interests in several U.S. companies spawned via reverse Chinese mergers, including 6D Global, that were secretly controlled by Benjamin Wey and New York Global Group.
On September 10, 2015, NASDAQ halted trading in 6D Global Technologies for additional information requested.