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发帖数: 1972 | 1 Zamansky & Associates LLC and Sianni & Straite LLP Announce Class Action
Lawsuit Against JinkoSolar Holding Co., Ltd., Credit Suisse Securities (USA)
LLC and Other Related Defendants
NEW YORK, Oct 11, 2011 (BUSINESS WIRE) -- Notice is hereby given that a
class action lawsuit has been filed today, October 11, 2011 in the United
States District Court for the Southern District of New York by investor
Marco Peters individually and on behalf of all other investors who purchased
or otherwise acquired JinkoSolar New York Stock Exchange-traded American
Depositary Shares /quotes/zigman/587434/quotes/nls/jks JKS +7.45% , CUSIP
47759T100, between May 13, 2010 and September 21, 2011 (the "Class Period").
The Class Action Complaint alleges that JinkoSolar and certain of its
officers and/or directors have violated sections 10(b) and 20(a) of the
Securities Exchange Act of 1934 and Sections 11, 12(a)(2) and 15 of the
Securities Act of 1933, and includes a claim for equitable assessment of
attorneys' fees. The Complaint also asserts Section 11 and 12(a)(2) claims
against lead underwriter Credit Suisse Securities (USA) LLC and other
investment banks that underwrote JinkoSolar's May 13, 2010 IPO.
A copy of the Class Action Complaint filed in this action, styled Peters v.
JinkoSolar Holding Co., Ltd., et al. (SDNY) can be viewed on the firms'
websites at www.zamansky.com or www.siannistraite.com .
JinkoSolar is one of the world's largest manufacturers of photovoltaic ("PV"
) products, including crystalline ingots, wafers, cells and mono- and multi-
crystalline PV panels. Based in the People's Republic of China, JinkoSolar
launched an IPO in the United States on May 13, 2010 issuing 5,835,000 ADSs
to trade on the New York Stock Exchange, representing 23,340,000 ordinary
shares. In the IPO Prospectus, Registration Statement, and subsequent SEC
filings, JinkoSolar assured investors that it was in full compliance will
all PRC environmental regulations.
Last month, after a massive die-off of fish in a river adjacent to
JinkoSolar's primary manufacturing facility in Haining, hundreds of local
residents protested and eventually ransacked the facility. 31 people were
detained by police, and the facility was shut for several weeks. Jinko has
since admitted that it was responsible for the environmental contamination
and agreed to take remedial action. JinkoSolar admitted at a press
conference, "we cannot shirk responsibility for the legal consequences which
have come from management slips." Following the disclosure of the
contamination, JinkoSolar's ADSs lost more than 42% of their value in a
single week, wiping out millions of dollars of shareholder value.
Plaintiff is represented by Zamansky & Associates LLC, a New York-based law
firm with extensive experience in prosecuting securities fraud and financial
services arbitration and litigation; and Sianni & Straite LLP, a Delaware-
based litigation firm (with a branch office in New York) whose primary
mission is to protect the rights of investors.
If you purchased JinkoSolar ADSs during the Class Period, you may, no later
than 60 days from October 11, 2011, move the court to serve as lead
plaintiff of the putative class, if you so choose. In order to serve as lead
plaintiff, however, you must meet certain legal requirements. If you wish
to discuss this action, or have any questions concerning this notice or your
rights or interests, please contact:
SOURCE: Zamansky & Associates LLC
Zamansky & Associates LLC
Jacob H. Zamansky, 212-742-1414
Fax: 212-742-1177
j**[email protected]
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