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Hagens Berman Sobol Shapiro Announces Lawsuit Filed on Behalf of Investors of Canadian Solar, Inc. and Continued Investigation

^{Published on 2010-06-05 08:35:14 - Market Wire}
 

SEATTLE--([ BUSINESS WIRE ])--Hagens Berman Sobol Shapiro today announced a class-action lawsuit has been filed against Canadian Solar, Inc. on behalf of investors who purchased the common stock of Canadian Solar Inc. (NASDAQ:CSIQ) between March 3, 2010 and June 1, 2010 (the aClass Perioda).

The lawsuit, filed in U.S. District Court for the Southern District of New York, which is based on a June 1, 2010 press release of the company admitting that the SEC has issued subpoenas relating to 2009 sales transactions and alleges that Canadian Solar, Arthur Chien and Shawn Qu made false and/or misleading statements and/or failed to disclose information that made the company's financial statements materially false and misleading at all relevant times.

If you wish to serve as lead plaintiff in this class-action lawsuit, you must move the Court no laterthan August 2, 2010. Any investor who purchased during the Class Period may move the Court to serve as lead plaintiff through counsel of their choice. Investors also may choose to do nothing and remain an absent class member.

If you wish to move the Court to be a lead plaintiff, Hagens Berman urges you to carefully evaluate any firm you may consider to represent your interests in theCanadian Solar CSIQclass action. WhileHagens Berman has not filed suitand an additional action is not needed for an investor to apply to lead the action, the firm is currently conducting a thorough and detailed investigation ofCanadian Solar andis discussing the case with interested investors who are encouraged to call for consultation. Thelaw permitsinvestors or group of investors (who apply by August 2, 2010 and have the largest losses of the applicants) to select counsel of their choice to prosecuteany securities fraud class action filed against Canadian Solar for the above described events. Critical criteria investors should consider when evaluating a law firm's ability to successfully prosecute this action and obtain a strong recovery, includeits reputation,experience, resources,lawyers available for theCanadian Solar action in particular,and the quality of the firm's work.

If you would like to discuss your legal rights or move to be a lead plaintiff, you may e-mail or call Reed Kathrein, ManagingPartnerof the Hagens Berman San Francisco office, without obligation or cost to you, at 510-725-3000, or by e-mail at [ csiq@hbsslaw.com ]. Hagens Berman also welcomes any information you may have that would help the investigation.

To learn more aboutHagens Berman, you may visit [ www.hbsslaw.com ], or visit ourlaw blog at [ www.meaningfuldisclosure.com ] or you may search aHagens Berman appointeda on any search engine. Hagens Bermanis a law firm focused oncomplex litigation including securitiesfraud class action litigation with offices inSeattle, Boston, Chicago, Los Angels, Phoenix and San Francisco.