Grabar Law Firm Investigating Potential Claims Against Officers and Directors of First Solar, Inc. (FSLR)
Are you currently a long-term shareholder of First Solar?
Philadelphia, Pa.–(Newsfile Corp. – May 19, 2022) – A federal securities fraud class action lawsuit has been filed on behalf of shareholders of First Solar, Inc. FSLR and certain of its officers, on behalf of shareholders who purchased or otherwise acquired securities of First Solar between February 22, 2019 and February 20, 2020.
Longer-term shareholders also have rights.
The class action complaint alleges that the defendants made materially false and misleading statements in that they deliberately or recklessly made and/or caused the company to make false and misleading statements that did not disclose that: (1 ) the 6-series module was significantly underperforming and was unable to meet its power targets; (2) when units installed at project development sites were unable to produce the contracted power target, additional units had to be installed – an additional cost borne by the Company; (3) when additional Series 6 units had to be installed at project development sites to compensate for insufficient and inconsistent power, rather than properly charging the costs of the additional Series 6 units to the module segment, the company instead incorrectly allocated the cost of the complementary units to the Systems segment; and (4) as a result of the foregoing, defendants’ positive statements about the company’s business, operations and prospects were materially false and misleading and/or lacked reasonable basis.
Current First Solar shareholders who have held First Solar stock since at least February 22, 2022 or earlier may seek corporate reforms, return of funds to corporate coffers and possibly a court-approved incentive award , if applicable.
If you would like to know more about this at no cost to you, please complete the form provided at https://grabarlaw.com/the-latest/first-solar-inc-investigation/ or contact us at [email protected] or call 267-507-6085.
These materials have been prepared by Grabar Law Firm for informational purposes only and do not constitute legal advice. This information is not intended to create, and receipt of it does not constitute, an attorney-client relationship. Previous results mentioned in these documents do not guarantee or suggest a similar result in other areas.
Joshua H. Grabar, Esq.
Grabar law firm
A place of freedom
1650 Market Street, Suite 3600
Philadelphia, Pennsylvania 19103
Email: [email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/124658