EQUITY ALERT: The Rosen Law Firm Announces the Filing of a Securities Class Against Yingli Green Energy Co. Ltd. to Recover I...
May 29 2015 - 12:48AM
Business Wire
The Rosen Law Firm, P.A., a global investor rights firm,
announces that a class action lawsuit has been filed on behalf of
all purchasers of Yingli Green Energy Holding Co. Ltd. common stock
(NYSE:YGE) during the period from March 18, 2014 through May 15,
2015. The lawsuit seeks to recover investors’ losses under the
federal securities laws.
To join the Yingli class action, visit the firm’s website at
http://www.rosenlegal.com/cases-626.html, or contact Phillip Kim,
Esq. Esq. toll-free at 866-767-3653 or via email at
pkim@rosenlegal.com or kchan@rosenlegal.com for information on the
class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A
CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU
RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN
AN ABSENT CLASS MEMBER.
The complaint alleges that Yingli made false and/or misleading
statements, and failed to disclose material adverse facts about the
Company’s business, operations, prospects and performance.
Specifically, Defendants made false and/or misleading statements
and/or failed to disclose: (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 the Company's 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.
On March 25, 2015, the Company announced its 2014 fiscal
financial results. According to the Company, Yingli had a net loss
of $88.7 million on revenue of $555.5 million, which was
substantially below its guidance and analysts’ expectations. On
this news, shares of Yingli fell $0.35 per share to close at $1.99
per share on March 25, 2015, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court
no later than July 27, 2015. A lead plaintiff is a representative
party acting on behalf of other class members in directing the
litigation. If you wish to join the litigation go to the firm’s
website at http://www.rosenlegal.com/cases-626.html or to discuss
your rights or interests regarding this class action, please
contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm
toll-free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or
kchan@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and
shareholder derivative litigation.
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Laurence Rosen, Esq.Phillip Kim, Esq.Kevin Chan, Esq.The Rosen
Law Firm, P.A.275 Madison Avenue, 34th FloorNew York, NY 10016Tel:
(212) 686-1060Toll Free: (866) 767-3653Fax: (212)
202-3827lrosen@rosenlegal.compkim@rosenlegal.comkchan@rosenlegal.comwww.rosenlegal.com