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Faruqi & Faruqi, LLP Investigates Potential Wrongdoing at HQ Sustainable Maritime Industries, Inc. and the Resignation of the C

^{Published on 2011-05-04 20:20:50 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Faruqi & Faruqi, LLP, a national law firm concentrating on investor rights, consumer rights and enforcement of federal antitrust laws, is investigating potential wrongdoing at HQ Sustainable Maritime Industries, Inc. (aHQSa or the aCompanya) (AMEX: HQS). Faruqi & Faruqi, LLP seeks to determine whether HQS and its investment bankers Roth Capital Partners and Ladenburg Thalmann & Co Inc. have violated the federal securities laws in connection with HQSa™s stock offerings and statements to the Companya™s shareholders.

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Specifically, the investigation concerns: (1) the Companya™s failure to file its annual report in a timely manner; (2) the circumstances that led to a halt in trading of the Companya™s shares; (3) the April 6, 2011 resignation of Andrew Intrater, the Chairman of the Companya™s Audit Committee; (4) the issues raised in Mr. Intratera™s resignation letter concerning the Companya™s stonewalling of the Audit Committeea™s investigation into accounting irregularities; and (5) the circumstances that led to the resignation of the Companya™s counsel, Troutman Sanders.

Take Action

If you purchased HQS securities in the Companya™s June 2009 stock offering from Roth Capital Partners or in the Companya™s August 2010 offering from Ladenburg Thalmann & Co. Inc. and you would like to discuss your legal rights, visit [ www.faruqilaw.com/HQS ]. You can also contact us by calling Anthony Vozzolo toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to [ avozzolo@faruqilaw.com ]. Faruqi & Faruqi, LLP also encourages anyone with information regarding HQSa™s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.

About Faruqi & Faruqi, LLP

Faruqi & Faruqi, LLP is a national law firm, representing investors, consumers and companies in the prosecution of claims under state corporate and consumer laws and the federal securities and antitrust laws. The firm is focused on providing exemplary legal services in complex litigation. Founded in 1995, the firm maintains its principal office in New York City, with offices in Delaware, California, Florida and Pennsylvania. The lawyers at Faruqi & Faruqi, LLP have demonstrated a clear commitment to championing the rights of shareholders and consumers nationwide.

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