Suntech Accused Of Misleading Investors In 2 Suits

Law360, Washington (August 3, 2012, 4:19 PM EDT) -- Solar energy company Suntech Power Holdings Co. was hit with two putative shareholder class actions in California federal court Wednesday alleging the Chinese manufacturer misled investors about the terms of an investment fund and government bond deal.

The plaintiffs — Scott Bruce and Anna Henisz — claim Suntech told investors in May 2010 that it would receive €560 million ($693 million) in German government bonds from GSF Capital Pte Ltd. as collateral for a €554.2 million loan guarantee to Solar Puglia II, one of GSF's...
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