NEW YORK, Aug. 2, 2012 The Rosen Law Firm, P.A. today announced that it has filed a class action lawsuit on behalf of investors who purchased the securities of Suntech Power Holdings Co. Ltd. (NYSE:STP) (“Suntech” or “Company”) between August 18, 2010 and July 30, 2012, inclusive (the “Class Period”).
To join the Suntech class action, visit the firm’s website at http://rosenlegal.com, or call Phillip Kim, Esq., toll-free, at 866-767-3653; you may also email pkim@rosenlegal.com for information on the class action. The action filed by the Rosen Law Firm is pending in the U.S. District Court for the Central District of California.
The Complaint asserts violations of the federal securities laws against Suntech and its present and former officers and directors for issuing false and misleading information to investors about the Company’s financial and business condition. Specifically, defendants misrepresented and/or failed to disclose that over 560 million (EURO) of German government bonds pledged to Suntech in connection with a loan guarantee Suntech made for a related entity, did not exist. When these adverse facts were learned by the market, the value of Suntech securities dropped, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than October 1, 2012. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at pkim@rosenlegal.com. You may also visit the firm’s website at http://www.rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
CONTACT: Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm P.A.
275 Madison Avenue 34th Floor
New York, New York 10016
Tel: (212) 686-1060
Weekends Tel: (917) 562-8616
Toll Free: 1-866-767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
szhang@rosenlegal.com
www.rosenlegal.com
