Robbins Arroyo LLP: JA Solar Holdings Co., Ltd. (Formerly JASO) Misled Shareholders According to Class Action
SAN DIEGO & BEIJING--(BUSINESS WIRE)--Jan 2, 2019--Shareholder rights law firm Robbins Arroyo LLP announces that former purchasers of JA Solar Holdings Co., Ltd. (Formerly NASDAQ: JASO) filed a class action complaint against the company’s officers and directors for alleged violations of the Securities Exchange Act of 1934 between December 11, 2017 and July 16, 2018. JA Solar Holdings Co. was a solar power product manufacturer.
View this information on the law firm’s Shareholder Rights Blog: https://www.robbinsarroyo.com/ja-solar-holdings-co/
JA Solar Accused of Depressing Stock Value Before Going Private
According to the complaint, JA Solar engaged in a scheme to deceive the market and artificially deflate the price of its stock by failing to disclose relevant facts. On November 17, 2017, JA Solar entered into an agreement and plan of merger. The Proposed Transaction implied a total equity value for JA Solar of $362.1 million. The merger was approved by shareholder vote on March 12, 2018, and closed on July 16, 2018. A mere three days later, it was revealed that JA Solar would be acquired by Tianye Tonglian in a reverse merger, allowing JA Solar to return to the stock market by relisting on the Shenzhen Stock Exchange at a multiple. JA Solar failed to disclose that it had plans to relist its shares in China prior to closing the transaction and delisting from the NASDAQ. As a result, shareholders unknowingly, and to their detriment, sold their shares at a depressed price.
Former JA Solar Holdings Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm’s website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
Attorney Advertising. Past results do not guarantee a similar outcome.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190102005636/en/
CONTACT: Leonid Kandinov
Robbins Arroyo LLP
600 B Street, Suite 1900
San Diego, CA 92101
(619) 525-3990 or Toll Free (800) 350-6003
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Robbins Arroyo LLP
Copyright Business Wire 2019.
PUB: 01/02/2019 05:30 PM/DISC: 01/02/2019 05:30 PM