First Solar Exec Settles With SEC Over Early Disclosure

Law360, New York (September 6, 2013, 4:11 PM EDT) -- The former head of investor relations for First Solar Inc. has reached a $50,000 settlement with the U.S. Securities and Exchange Commission over allegations he gave advance word to certain investors about an aborted U.S. Department of Energy loan guarantee, the agency said Friday.

The SEC filed and settled an administrative proceeding alleging Lawrence D. Polizzotto indicated in phone conversations with about 20 analysts and investors in September 2011 that Tempe, Ariz.-based First Solar was unlikely to receive a highly anticipated loan guarantee from the government....
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