Suntech Power Holdings Co. Ltd.
Class Period: Aug 18, 2010 to Jul 30, 2012
Lead Plaintiff Deadline: Oct 13, 2012 + Deadline passed
Summary of Case:
A securities class-action lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of those who purchased shares from Suntech Power Holdings Co. Ltd. between August 18, 2010, and July 30, 2012.
The complaint charges Suntech and its officers with violations of federal securities laws by making false and/or misleading statements and failing to disclose material adverse facts about Suntech's business, operations and prospects.
Specifically, the complaint alleges that the defendants made false and/or misleading statements and failed to disclose that Suntech had not been pledged 560 million euros in German government bonds from GSF Capital Pte Ltd. in connection with its May 2010 financing arrangement with the China Development Bank; that the company lacked internal and financial controls; and that, as a result, the company's financial statements were materially false and misleading.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.