NASDAQ Stock Market Sued by CleanTech Innovations Over Alleged Discrimination
On 02.02.12, In Legal Industry, by Blake Houser
CleanTech Innovations, Inc, announced it filed an amended complaint in the U.S. District Court for the Southern District of New York against the NASDAQ OMX Group, Inc and the NASDAQ Stock Market, LLC. CleanTech Innovations claimed that NASDAQ engaged in discrimination and racial profiling against the corporation and other China-based companies. CleanTech Innovations, Inc, a U.S. company and maker of wind towers, as well as other industrial products, is seeking further discovery against NASDAQ.
A copy of the complaint that the wind tower maker filed against NASDAQ for its alleged discriminatory acts was filed with the Securities and Exchange Commission today as an exhibit to Form 8-K. The company also filed today a number of other exhibits to the Form 8-K as its evidence to the alleged racist discrimination of NASDAQ against CleanTech.
CleanTech, at all times, has complied with the disclosure rules and listing standards of NASDAQ, and has never been late or remiss in its regulatory filings. The company also said that it has been complying with disclosure requirements and securities laws.
CleanTech is represented by former US Senator and Chairman of the United States Senate Committee on the Judiciary Arlen Specter, Esq. During an interview, Specter commented, “As noted in my letters of January 12, 2012 to Secretary of Commerce Bryson and Trade Representative Kirk, I have undertaken representation of CleanTech because of evidence of racist discrimination against the Company because it is Chinese. NASDAQ’s delisting of CleanTech has resulted in losses of more than $200 million in CleanTech’s shareholders’ value and loss of opportunities to bid on more than $100 million in contracts for wind energy towers on New Jersey’s coast, which would have resulted in U.S. jobs. This matter involves more than a private dispute against two litigants.”