Tuesday, August 19, 2014

"New Evidence Buoys Claims Against Suntech"

Last week:

"Chinese solar company Suntech Power Holdings and its former chief executive must face a class action accusing them of lying to investors, a federal judge ruled.

A 'strong inference' can be made that former Suntech CEO Zhengrong Shi knowingly made false public statements about the company's liabilities before a scandal broke that plummeted Suntech's stock prices, the Tuesday ruling states.

New evidence, including emails and internal Suntech documents, support the ruling, U.S. District Judge Richard Seeborg said."
Here is the ORDER DENYING MOTION TO DISMISS [pdf].

1 comment:

eah said...

A dishonest Chinese company run by dishonest Chinese? Whoever heard of such a thing?!

Good luck with any recovery.