First Solar Shareholders Win Class Cert. In Fraud Case

Law360, New York (October 09, 2013, 7:49 PM ET) -- An Arizona federal court on Tuesday certified a class of shareholders accusing First Solar Inc. officers and directors of making misrepresentations to investors to inflate the company's stock price, saying that common issues of the class predominated under the fraud on the market theory.

U.S. District Judge David G. Campbell granted certification to a class of shareholders who purchased First Solar stock between April 30, 2008. and Feb. 28, 2012.

The issue of certification turned on the predominance requirement of Rule 23(b)(3) of the Federal Rules...
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Case Information

Case Title

Smilovits v. First Solar Incorporated et al


Case Number

2:12-cv-00555

Court

Arizona

Nature of Suit

Other Statutes: Securities/Commodities

Judge

David G Campbell

Date Filed

March 15, 2012

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