Glancy Prongay & Murray LLP Reminds Investors Of The Upcoming Deadline In The Class Action Filed On Behalf Of Yingli Green En...
July 14 2015 - 11:47AM
Business Wire
Glancy Prongay & Murray LLP reminds investors of the
upcoming deadline in the class action complaint filed on behalf of
a class comprising purchasers of the securities of Yingli Green
Energy Holding, Co. (“Yingli” or the “Company”) (NYSE: YGE) between
March 18, 2014 and May 15, 2015, inclusive (the “Class
Period”). Investors are encouraged to contact Glancy Prongay &
Murray LLP prior to the July 27, 2015 lead plaintiff
deadline.
Yingli is one of the world’s largest solar panel producers, and
operates on a high volume, low margin business model. Unbeknownst
to investors the Company allegedly has overstated certain material
accounting items, suffers severe liquidity problems, and may not be
able to keep its production lines running in the near term.
The complaint filed on behalf of Yingli investors alleges that
defendants made allegedly false and/or misleading statements and/or
allegedly failed to disclose that: (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 its 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. When the truth was revealed to investors, the
Company’s share price declined sharply thereby damaging
investors.
If you purchased Yingli securities during the Class Period, you
may move the Court no later than July 27, 2015, if you have
information or would like to learn more about these claims, or have
any questions concerning this announcement, please contact Lesley
Portnoy, of Glancy Prongay & Murray LLP, 1925 Century Park
East, Suite 2100, Los Angeles, California 90067 at 310-201-9150,
Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com,
or visit our website at http://www.glancylaw.com. If you inquire by
email please include your mailing address, telephone number and
number of shares purchased.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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Glancy Prongay & Murray, Los AngelesLesley
Portnoy310-201-9150 or
888-773-9224shareholders@glancylaw.comwww.glancylaw.com