Investor Sues Broadwind Energy Over Inflated Stock

Law360, New York (March 4, 2011, 1:36 PM EST) -- A shareholder sued Broadwind Energy Inc. in Illinois federal court Thursday claiming the company kept its stock price artificially high and let its CEO and Tontine Capital Partners LP cash out early while smaller shareholders were left holding the bag.

Beginning in March 2009, the Chicago-based wind energy technology company hid from shareholders that it would have to write off $82 million in miscalculated asset values, according to a complaint filed by investor Jeffrey Hopf in the U.S. District Court for the Northern District of Illinois....
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