Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the District of Arizona on behalf of shareholders of First Solar, Inc. who purchased shares between February 22, 2019 and February 20, 2020.
First Solar and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On February 20, 2020, the Company disclosed that it was exploring the sale of its Project Development business, that it was experiencing “challenges with regard to certain aspects of the overall cost per watt,” and that it would no longer be disclosing a discrete cost per watt for its Series 6 units.
On this news, shares of First Solar declined, damaging shareholders.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until March 8, 2022 to request that the court appoint them lead plaintiff.