June 14, 2018 / 11:25 AM / in 5 months

9th Circuit throws some shade on First Solar shareholders in derivative appeal

A group of First Solar shareholders cannot sue the company’s officers and directors for allegedly breaching their fiduciary duties by downplaying the severity of manufacturing problems with its rooftop panels, a federal appeals court held on Monday.

A unanimous three-judge panel of the 9th U.S. Circuit Court of Appeals affirmed a ruling by a federal judge in Phoenix, Arizona, who dismissed the action after finding the plaintiffs deliberately skipped a step required by the Federal Rules of Civil Procedure.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2JFCLLy

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below