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Cohen Milstein Sellers & Toll PLLC Announces Investigation of Suntech Power Holdings Co Ltd


Wednesday, 22 Aug 2012 03:37pm EDT 

Cohen Milstein Sellers & Toll PLLC announced that it is conducting an investigation to determine whether Suntech Power Holdings Co Ltd (Suntech or the Company) and certain of its officers and directors made false and misleading statements and/or omissions in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. Class action lawsuits were filed in the U.S. District Courts for the Central and Northern Districts of California by other law firms on behalf of purchasers of the common stock of Suntech Power Holdings Co., Ltd. between August 18, 2010 and July 30, 2012, inclusive (the Class Period). The complaints allege that Defendants misrepresented and/or failed to disclose that: Suntech had not been pledged €560 million in German government bonds from GSF Capital Pte Ltd. (GSF Capital), in connection with its May 2010 financing arrangement with the China Development Bank (CDB); Suntech lacked internal and financial controls; and as a result, the Company's financial statements were materially false and misleading. 

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