BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that it is continuing its investigation of potential claims against First Solar Inc. (“First Solar” or the “Company”) (NASDAQ:FSLR) and its board of directors concerning possible breaches of fiduciary duties by the Company or its fiduciaries. First Solar engages in the design, manufacture and sale of thin-film semiconductor solar modules and photovoltaic solar power systems in the United States and internationally.
The investigation is related to allegations in a shareholder class action complaint, filed March 15, 2012 in the United States District Court for the District of Arizona, alleging violations of federal securities laws by the Company and certain of its executive officers between April 30, 2008 and February 28, 2012. The shareholder lawsuit alleges, among other things, that during the foregoing period the defendants misrepresented or failed to disclose the full impact of certain solar-module manufacturing flaws on First Solar’s financial performance and prospects, and that the Company was improperly recognizing revenue concerning certain products in its systems business.
If you purchased shares of First Solar prior to May 2008 and still hold those shares, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.