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Suntech Power Holdings Co., Ltd. (ADR) (NYSE:STP) Investor Alert: Lawsuit against CEO filed

A lawsuit was filed by a current investor in shares of Suntech Power Holdings Co., Ltd. (ADR) (NYSE:STP) and other current long term NYSE:STP stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com

 
 
mail@shareholdersfoundation.com
mail@shareholdersfoundation.com
PRLog - Feb. 13, 2013 - An investor in shares of Suntech Power Holdings Co., Ltd. (ADR) (NYSE:STP) filed a lawsuit against the CEO of Suntech Power Holdings Co over alleged breaches of fiduciary duties.

If you purchased shares of Suntech Power Holdings Co., Ltd. (ADR) (NYSE:STP), you have certain options and you should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff alleges that the CEO of Suntech Power Holdings Co., Ltd in conjunction with other top executives hollowed out the company for the benefit of silicon supplier Asia Silicon Qinhai, a company the CEO co-founded in 2006. The lawsuit against the CEO follows an earlier lawsuit filed against Suntech Power Holdings Co., Ltd. over alleged Securities Laws Violations.

According to that complaint the plaintiff alleges that Suntech Power Holdings Co., Ltd. violated the Securities Exchange Act of 1934 by issuing allegedly false and misleading information to investors about the Company's financial and business condition.

Specifically, so the lawsuit, defendants allegedly misrepresented and/or failed to disclose that over 560 million (EURO) of German government bonds pledged to Suntech Power Holdings Co., Ltd. in connection with a loan guarantee Suntech Power Holdings Co., Ltd. made for a related entity, did not exist.

Shares of Suntech Power Holdings Co., Ltd. (ADR) (NYSE:STP) declined from as high as$10.71 in early 2011 to as low as $0.72 per share in September 2012.

On Januayr 8, 2013, NYSE:STP shares closed at $1.66 per share.

Those who purchased shares of Suntech Power Holdings Co., Ltd. (ADR) (NYSE:STP), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

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Contact Email:
***@shareholdersfoundation.com Email Verified
Source:Shareholders Foundation, Inc.
Phone:+1-(858)-779-1554
Zip:92108
City/Town:San Diego - California - United States
Industry:Business, Finance
Tags:suntech power holdings, nyse stp, lawsuit, class action
Shortcut:prlog.org/12078801
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