Akeena Solar Securities Suit Lives To See Another Day

Law360, New York (May 21, 2010, 6:04 PM EDT) -- A federal judge has denied Akeena Solar Inc.'s motion to dismiss a securities class action that alleges, among other things, that the company's founder helped inflate the company's stock price in order to fund a divorce settlement.

Judge James Ware of the U.S. District Court for the Northern District of California ruled Wednesday that the plaintiffs in the case had raised enough questions of material fact regarding false statements by Akeena and evidence of “unusual stock sales” by President and CEO Barry Cinnamon to make a...
To view the full article, register now.