Chinese Power Co. Ducks Securities Class Claims For Now

Law360, Los Angeles (May 31, 2012, 9:59 PM EDT) -- A California federal judge on Thursday threw out a consolidated securities class action accusing Chinese power equipment maker A-Power Energy Generation Systems Ltd. and others of lying about the company's finances, saying investors need to beef up their allegations and try again.

U.S. District Judge George H. Wu granted motions to dismiss the suit filed by A-Power, former independent directors Robert B. Leckie and Dilip R. Limaye, and accounting firm MSCM LLP, giving investors leave to amend their complaint to properly allege that A-Power violated U.S....
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