Request Legal Help Now - Free
LAWSUITS NEWS & LEGAL INFORMATION

JA Solar Reaches Preliminary Securities Settlement of $4.5m


This is a settlement for the Securities/Stock Fraud lawsuit.

new York, NY: JA Solar Holdings Co., Ltd, a manufacturer of solar cells and solar power products, has reached an agreement in principle to settle the securities class action lawsuits, Lee Ellenburg III, et al. v. JA Solar Holdings Co., Ltd. et al, pending in the US District Court for the Southern District of New York, initially filed on December 3, 2008, and later consolidated by order of the court dated April 17, 2009.

Under the terms of the proposed settlement, a sum of $4.5 million will be made available to shareholders who may qualify for a distribution under the settlement. As part of the settlement, the plaintiff has agreed to dismiss the action and drop all claims against JA Solar and the Individual Defendants.

The settlement, which is not final until the class receives notice of the settlement and the Court grants final approval of the settlement terms, is within the limits of the company's D&O policy.

The Court has issued preliminary approval of the settlement, and notices of settlement will be issued to eligible shareholders. Shareholders will be offered an opt-out period, and the Court has set June 24, 2011, as the hearing date for final approval of the settlement.

Legal Help

If you have a similar problem and would like to be contacted by a lawyer at no cost or obligation, please fill in our form.
Published on Mar-1-11


ADD YOUR COMMENT ON THIS ISSUE

Fields marked * are mandatory. Please read our comment guidelines before posting.

*Name:

Note: Your name will be published with your comment.

*Email Address:

Your email will only be used if a response is needed.
*Your Comment:

Are you the defendant or a subject matter expert on this topic with an opposing viewpoint? We'd love to hear your comments here as well, or if you'd like to contact us for an interview please submit your details here.
Request Legal Help Now! - Free