BENSALEM, Pa.--()--Law Offices of Howard G. Smith announces that all purchasers of the securities of Suntech Power Holdings Co., Ltd. (“Suntech” or the “Company”) (NYSE:STP), between August 18, 2010 and July 30, 2012, inclusive (the “Class Period”), have until October 1, 2012 to move the Court to serve as Lead Plaintiff in the securities fraud class action lawsuit filed in the United States District Court for the Northern District of California.
The Complaint charges Suntech and certain of the Company’s executive officers with violations of federal securities laws. Suntech, a solar energy company, engages in the design, development, manufacture and marketing of photovoltaic products. The Complaint alleges that throughout the Class Period the defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about Suntech’s business, operations and prospects. Specifically, the Complaint alleges that the defendants made false and/or misleading statements and/or failed to disclose: (1) that Suntech had not been pledged EURO 560.0 million in German government bonds from GSF Capital Pte Ltd., in connection with its May 2010 financing arrangement with the China Development Bank; (2) that the Company lacked internal and financial controls; and (3) that, as a result, the Company’s financial statements were materially false and misleading at all relevant times.
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. If you purchased Suntech securities between August 18, 2010 and July 30, 2012, you have certain rights, and have until October 1, 2012 to move for lead plaintiff status. To be a member of the class you need not take any action at this time, or may retain counsel of your choice. If you wish to discuss this action or learn more concerning your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at 215-638-4847, Toll-Free at 888-638-4847, or by email to email@example.com, or visit our website at http://www.howardsmithlaw.com.