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Kendall Law Group Investigates Canadian Solar For Shareholders

^{Published on 2010-06-24 07:56:11 - Market Wire}
 

DALLAS--([ BUSINESS WIRE ])--[ Kendall Law Group ], a national securities firm led by a former federal judge Joe Kendall, is investigating Canadian Solar (NASDAQ: CSIQ) after the company's recent disclosures regarding delayed financial reporting and subpoenas issued by the Securities and Exchange Commission for 2009 sales transactions. The firma™s investigation seeks to determine whether Canadian Solar and its Board made false and misleading statements in violation of federal securities law. Shareholders familiar with the investigation or who may have suffered a loss as a result are encouraged to contact the Kendall Law Group at 877-744-3728 or by email at [ jmckey@kendalllawgroup.com ].

"certain subsequent return of goods after the quarter end."

On June 1, 2010, Canadian Solar disclosed the postponement of their first quarter 2010 financial results in response to the SEC investigation. The company also stated that it may need to revise earnings from the fourth quarter 2009 due to their accounting practices of recognizing sales before receiving full cash payments afrom certain customersa and due to acertain subsequent return of goods after the quarter end.a Canadian Solar and its Board may have violated federal securities law by failing to disclose their overstated financial results, failing to properly account for certain goods returned after the end of the fourth quarter of 2009, and failing to implement adequate internal and financial controls.

Kendall Law Group has the credentials and experience to pursue any type of complex securities litigation in the nation. The firm, founded by a former federal judge and a former U.S. Attorney, is a national securities firm that represents shareholders when publicly traded companies violate the law. Shareholders are urged to contact attorney Jamie McKey for more information.