Science & Technology
Science and Technology
Science and Technology
Mon, June 7, 2010
Sun, June 6, 2010
Sat, June 5, 2010 Finkelstein Thompson LLP Announces Investigation of Canadian Solar, Inc.
WASHINGTON--([ BUSINESS WIRE ])--Finkelstein Thompson LLP announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York againstCanadian Solar, Inc.(aCanadian Solara or the aCompanya) (Nasdaq:CSIQ). Finkelstein Thompson is investigating similar claims at this time.
On June 1, 2010, Canadian Solar announced that it would postpone the release of its full financial results for the first quarter ended March 31, 2010 and its quarterly conference call, scheduled for June 2, 2010, for reasons related to a subpoena from the Securities and Exchange Commission (aSECa) requesting documents from the Company concerning, among other things, certain sales transactions in 2009. In response to this news, Canadian Solar shares plummeted more than 14% on unusually heavy volume to close at $10.17 per share on June 2, 2010. According to the filed Complaint, the Company made false and misleading statements and/or failed to disclose that, among other things: (1) the Company was uncertain whether the Company would receive full payments from certain customers; (2) certain goods were subsequently returned after the quarter end; and (3) the Company lacked adequate internal and financial controls.
If you are interested in discussing your rights as a Canadian Solar shareholder, or have information relating to this investigation, please contact Finkelstein Thompson's Washington, DC offices at (877) 337-1050 or by email at [ contact@finkelsteinthompson.com ].
Finkelstein Thompson LLP has spent over three decades delivering outstanding representation to institutional and individual clients in financial litigation, and has been appointed as lead or co-lead counsel in dozens of shareholder class actions. Indeed, the firm has served in leadership roles in cases that have recovered over $1 billion for investors and consumers.
To learn more about Finkelstein Thompson LLP, please visit our web site at [ www.finkelsteinthompson.com ]. Attorney advertising. Prior results do not guarantee similar outcomes.
