Law Offices of Howard G. Smith Announces Class Action Lawsuit Against First Solar Inc

Law Offices of Howard G. Smith announced that a class action lawsuit has been filed in the United States District Court for the District of Arizona on behalf of all persons or entities who purchased the securities of First Solar Inc. between April 30, 2008 and February 28, 2012, inclusive (the Class Period), seeking to pursue remedies under the Securities Exchange Act of 1934. The Complaint alleges that defendants issued false and misleading statements and/or failed to disclose material adverse facts about the Company's business, operations and prospects. Specifically, Defendants misrepresented or failed to disclose: (1) the full impact of certain solar module manufacturing flaws on the Company’s earnings; (2) that the Company was improperly recognizing revenue concerning certain products in its systems business; (3) that the Company lacked adequate internal and financial controls; and (4), as a result of the foregoing, that the Company's statements were materially false and misleading at all relevant times.