June 30, 2020.
The Court in the First Solar securities matter (District Court of Arizona) approved
the parties’ agreement to settle for $350 million. Plaintiffs alleged that
First Solar failed to disclose that certain of its solar modules were knowingly
defective yet were sold to customers. First Solar allegedly engaged in
accounting fraud with respect to the defective products. Professor Steven Feinstein
of Babson College and Crowninshield Financial Research provided expert analysis
and deposition testimony on issues of market efficiency, loss causation,
damages, and the plan of allocation.
Additional information about the settlement is available here.