Rosen Law Firm Reminds Suntech Power Holdings Co. Ltd. of Important Class Action Deadline -- STP
Published on Saturday, 18 August 2012 01:01 Written by TradersHuddle Staff
NEW YORK, Aug. 18, 2012 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. reminds investors of the October 1, 2012 lead plaintiff deadline in the class action lawsuit filed by the firm on behalf of purchasers of the securities of Suntech Power Holdings Co. Ltd. (NYSE:STP) between August 18, 2010 and July 30, 2012.
The Complaint asserts violations of the federal securities laws against Suntech and its present and former officers and directors for issuing false and misleading information to investors about the Company's financial and business condition. Specifically, defendants misrepresented and/or failed to disclose that over 560 million (EURO) of German government bonds pledged to Suntech in connection with a loan guarantee Suntech made for a related entity, did not exist. When these adverse facts were learned by the market, the value of Suntech securities dropped, damaging investors. Recently, Suntech's CEO unexpectedly resigned.
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. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
Attorney Advertising. Prior results do not guarantee a similar outcome.
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