NEW ORLEANS – Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until March 8, 2022 to file lead plaintiff applications in a securities class action lawsuit against First Solar, Inc. (Nasdaq GS: FSLR), if they purchased the Company’s shares between February 22, 2019 and February 20, 2020, inclusive (the “Class Period”). This action is pending in the United States District Court for the District of Arizona.
About the Lawsuit
First Solar and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On February 20, 2020, the Company disclosed that it was exploring the sale of its Project Development business, that it was experiencing “challenges with regard to certain aspects of the overall cost per watt,” and that it would no longer be disclosing a discrete cost per watt for its Series 6 units.
On this news, shares of First Solar declined, damaging shareholders.
The case is City of Pontiac General Employees’ Retirement System v. First Solar, Inc., No. 22-cv-00036.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
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