LOS ANGELES,–(BUSINESS WIRE)–$SKYS #SKYS—The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Sky Solar Holdings, Ltd. (“Sky” or “the Company”) (NASDAQ: SKYS) for violations of the federal securities laws.
Investors who purchased the Company’s securities between July 6, 2020 and July 17, 2020, inclusive (the ”Class Period”), are encouraged to contact the firm before September 15, 2020.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Documents issued in support of Sky’s merger with a group (the “Offeror Group”) were inadequate in multiple ways. The Company’s documents failed to meet disclosure obligations under Rule 13e-3 about transaction fairness and the valuation performed by the Offeror Group. The documents also failed to meet Rule 13e-3 requirements on availability of appraisal rights or other shareholder rights. The Company claimed there would be no appraisal rights because a short-form merger under Cayman law does not require a shareholder vote. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Sky, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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