Trading in HQ Sustainable shares halted
Puget Sound Business Journal
Date: Wednesday, April 6, 2011, 8:56am PDT
Related:Legal Services
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Trading in shares of HQ Sustainable Maritime Industries Inc. has been halted.
Last month, the Seattle company (AMEX: HQS) that operates a fish-farming and processing enterprise in China’s Hainan Province said it will be late in filing its fourth quarter and fiscal 2010 earnings reports. Its shares were last traded on April 1, closing at $2.78, down from a 2011 high of more than $5.
Last month when announcing that it would be late filing the required paperwork, company officials said, “The postponement in filing is due to delays in compiling information for the preparation of the financial statements. The company fully expects to be able to file within the additional time allowed by ... and plans to file as soon as possible following the completion of the audit of the financial statements.”
On Monday, the San Diego law firm of Robbins Umeda said it’s investigating the company, saying it “has commenced an investigation into possible breaches of fiduciary duty and other violations of federal securities laws by certain officers and directors at HQ Sustainable.”
Read more: Trading in HQ Sustainable shares halted | Puget Sound Business Journal
