NEW YORK, March 11, 2024 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Daqo New Energy Corp. (“Daqo” or the “Company”) (NYSE: DQ). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Daqo and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On August 3, 2023, Daqo announced that its Chairman and Founder, Guangfu Xu, would step down from his position as Chairman of the Company’s Board of Directors (the “Board”), effective immediately, but would remain as a director on the Board. The Company also announced that Longgen Zhang will step down from his roles as Chief Executive Officer and as a director of the Company with immediate effect due to personal reasons.
On this news, Daqo’s American depositary receipt (“ADR”) price fell $1.71 per ADR, or 4.74%, to close at $34.34 per ADR on August 3, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, 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, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz 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 billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980
SOURCE Pomerantz LLP
