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....
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Hopf v. Duprey et al


Case Number

1:11-cv-01519

Court

Illinois Northern

Nature of Suit

160(Contract: Stockholders Suits)

Judge

Honorable Robert W. Gettleman

Date Filed

March 2, 2011

Companies

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.