Canadian Solar Beats Investor Action Over 'Sham' Sales

Law360, New York (March 28, 2013, 6:16 PM EDT) -- Canadian Solar Inc. scored a victory Thursday when a New York federal judge tossed a proposed class action against the Ontario-based solar module maker over certain 2009 sales, ruling investors had not properly identified details or pled enough facts about them.

U.S. District Judge Robert Sweet granted Canadian Solar's motion to dismiss, finding that the plaintiffs had identified only one allegedly sham deal, which he noted was worth only $5.7 million.

The transaction they had identified involved a shipment of solar modules that Canadian Solar allegedly...
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Case Title

Janbay et al v. Canadian Solar Inc. et al


Case Number

1:10-cv-04430

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Robert W. Sweet

Date Filed

June 3, 2010

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