First Solar Shareholders Win Class Cert. In Fraud Case

Law360, New York (October 9, 2013, 7:49 PM EDT) -- 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...
To view the full article, register now.

Documents

Related

Sections

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

Law Firms

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.