Press release from Business Wire
Glancy Binkow & Goldberg LLP Announces Class Action Lawsuit Against First Solar Inc.
Friday, March 30, 2012
Glancy Binkow & Goldberg LLP Announces Class Action Lawsuit Against First Solar Inc.21:30 EDT Friday, March 30, 2012 LOS ANGELES (Business Wire) -- Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been filed in the United States District Court for the District of Arizona on behalf of all persons or entities who purchased the securities of First Solar Inc. (“First Solar” or the “Company”) (NASDAQ:FSLR) between April 30, 2008 and February 28, 2012, inclusive (the “Class Period”), seeking to pursue remedies under the Securities Exchange Act of 1934. First Solar engages in the design, manufacture and sale of thin-film semiconductor solar modules and photovoltaic solar power systems in the United States and internationally. The Complaint alleges that defendants issued false and misleading statements and/or failed to disclose material adverse facts about the Company's business, operations and prospects. Specifically, Defendants misrepresented or failed to disclose: (1) the full impact of certain solar module manufacturing flaws on the Company's earnings; (2) that the Company was improperly recognizing revenue concerning certain products in its systems business; (3) that the Company lacked adequate internal and financial controls; and (4), as a result of the foregoing, that the Company's statements were materially false and misleading at all relevant times. No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased First Solar securities between March 31, 2011 and February 6, 2012, you have certain rights, and have until May 14, 2012 to move for lead plaintiff status. To be a member of the class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent class member. If you wish to discuss this action or 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 or Toll Free at (888) 773-9224, by e-mail to firstname.lastname@example.org. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. Glancy Binkow & Goldberg LLP, Los Angeles, CAMichael Goldberg(310) 201-9150 or (888) email@example.com