WASHINGTON, Sept 6 The former head of investor
relations at First Solar Inc will pay $50,000 to settle
civil charges that he wrongfully gave some analysts and
investors a heads-up that the company was unlikely to receive a
U.S. Department of Energy loan guarantee, U.S. regulators said
Lawrence Polizzotto settled with the U.S. Securities and
Exchange Commission without admitting or denying the charges.
The SEC said he violated fair disclosure rules after letting
only select people know the news about the loan. When First
Solar more broadly announced it the following morning in a press
release, the company's stock price dropped 6 percent.
The SEC said it has decided not to separately charge the
company due to its "extraordinary cooperation," noting it
self-reported the violations to the SEC.