Science & Technology
Tue, August 21, 2012 
LOS ANGELES--([ BUSINESS WIRE ])--Glancy Binkow & Goldberg LLP announces that all purchasers of the American Depositary Shares of Suntech Power Holdings Co., Ltd. (aSuntecha or the aCompanya) (NYSE:STP) between August 18, 2010 and July 30, 2012, inclusive (the aClass Perioda), have until October 1, 2012 to file a motion with the Court to be appointed as lead plaintiff. The securities fraud class action lawsuit was filed in the United States District Court for the Northern District of California.
Suntech, a solar energy company, engages in the design, development, manufacture and marketing of photovoltaic products. The Complaint alleges violations of federal securities laws against Suntech and certain of the Companyas executive officers. Specifically, the Complaint alleges that the defendants made false and/or misleading statements and/or failed to disclose: (1) that Suntech had not been pledged EURO 560.0 million in German government bonds from GSF Capital Pte Ltd., in connection with its May 2010 financing arrangement with the China Development Bank; (2) that the Company lacked internal and financial controls; and (3) that, as a result, the Company's financial statements were materially false and misleading at all relevant times.
If you purchased Suntech American Depositary Shares between August 18, 2010 and July 30, 2012, you may move the Court no later than October 1, 2012 to serve as Lead Plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take action at this time; you may retain counsel of your choice or take no action and remain an absent Class member. To [ learn more ] about this action, or if you have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, by telephone at 310-201-9150, Toll-Free at 888-773-9224, by e-mail to [ shareholders@glancylaw.com ], or visit our website at [ http://www.glancylaw.com ].
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