IMPORTANT INVESTOR ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the District of New Jersey against Hongli Clean Energy Technologies Corp.

NEW YORK, May 12, 2017 -- Wolf Haldenstein Adler Freeman & Herz LLP announces the filing of a securities class action lawsuit in the United States District Court for the District of New Jersey against Hongli Clean Energy Technologies Corp. (“Hongli” or the “Company”) (NASDAQ:CETC) on behalf of investors who purchased shares between October 13, 2015 and April 7, 2017 inclusive (the “Class Period”).

Investors who have incurred losses in shares against of Hongli Clean Energy Technologies Corp. are urged to contact the firm immediately at [email protected] or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com. 

If you suffered a loss in Hongli Clean Energy Technologies Corp., and would like to assist with the litigation process as a lead plaintiff, you may, no later than July 7, 2017, request that the Court appoint you lead plaintiff of the proposed class.

The filed Complaint alleges that during the Class Period, Hongli made false and/or misleading statements and/or failed to disclose that the Company did not properly record the impairment of its assets. On April 7, 2017, NASDAQ halted trading of Hongli’s securities.

On April 21, 2017, Hongli revealed that it dismissed KSP Group, Inc. (“KSP”) as its independent auditor and stated that KSP had no disagreements with Hongli as to its accounting practices. On April 26, 2017, Hongli disclosed that KSP believed a disagreement did exist at the time Hongli dismissed it. KSP disagreed with the timing and manner in which Hongli valued a substantial amount of assets on its balance sheet.

Shares of Hongli Clean Energy Technologies Corp. last traded at $4.64 per share on April 7, 2017 and has been delisted from the NASDAQ exchange.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at [email protected], or visit our website at www.whafh.com.

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Contact:

Wolf Haldenstein Adler Freeman & Herz LLP 
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: [email protected], [email protected] or [email protected]
Tel: (800) 575-0735 or (212) 545-4774