First Solar, Inc. Securities Fraud Class Action

Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired First Solar, Inc. (“First Solar”) (NASDAQ: FSLR) common stock between February 22, 2019 and February 20, 2020, inclusive (the “Class Period”).

The complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Series 6 module was grossly underperforming and was unable to hit its wattage targets; (2) when the units installed at the Project Development sites were unable to produce the contractually mandated wattage target, additional units needed to be installed – an additional cost borne by First Solar; (3) when additional Series 6 units had to be installed at Project Development sites to compensate for the insufficient and inconsistent wattage, rather than properly charging the costs of the additional Series 6 units to the Modules segment, Fist Solar instead improperly booked the cost of the additional units to another company segment; and (4) as a result of the foregoing, the Defendants’ positive statements about First Solar’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Current Status of Case:
On June 23, 2023, the Court granted Defendants’ Motion to Dismiss. This action has concluded.

If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at [email protected]. If you would like additional information about the suit, please click on the link “Submit Your Information” above and fill out the form as promptly as possible.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including The National Law Journal’s Plaintiff’s Hot List and Trailblazers in Plaintiffs’ Law, BTI Consulting Group’s Honor Roll of Most Feared Law Firms, The Legal Intelligencer’s Class Action Firm of the Year, Lawdragon’s Leading Plaintiff Financial Lawyers, and Law360’s Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. KTMC has recovered over $25 billion for our clients and the classes they represent.