LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP reminds investors of the upcoming deadline in the class action complaint filed on behalf of a class comprising purchasers of the securities of Yingli Green Energy Holding, Co. (“Yingli” or the “Company”) (NYSE: YGE) between March 18, 2014 and May 15, 2015, inclusive (the “Class Period”). Investors are encouraged to contact Glancy Prongay & Murray LLP prior to the July 27, 2015 lead plaintiff deadline.
Yingli is one of the world’s largest solar panel producers, and operates on a high volume, low margin business model. Unbeknownst to investors the Company allegedly has overstated certain material accounting items, suffers severe liquidity problems, and may not be able to keep its production lines running in the near term.
The complaint filed on behalf of Yingli investors alleges that defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose that: (1) that the Company was inappropriately recognizing revenue; (2) that the Company had no reasonable prospects to collect on certain accounts receivable based on historical customer conduct; (3) that the Company was no longer able to borrow from commercial banks to fund its operations; (4) that the Company's inability to raise additional capital or borrow funds from commercial banks threatened its ability to continue as a going concern; and, (5) that, as a result of the foregoing, Defendants' statements about Yingli's business, operations, and prospects were false and misleading and/or lacked a reasonable basis. When the truth was revealed to investors, the Company’s share price declined sharply thereby damaging investors.
If you purchased Yingli securities during the Class Period, you may move the Court no later than July 27, 2015, if you have information or would like to learn more about these claims, or have any questions concerning this announcement, please contact Lesley Portnoy, of Glancy Prongay & Murray LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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