NEW YORK, June 2, 2010 (GLOBE NEWSWIRE) -- Pomerantz Haudek Grossman & Gross LLP is investigating claims on behalf of investors of Canadian Solar Inc. ("Canadian Solar") (Nasdaq:CSIQ) during the period of May 26, 2009 – June 1, 2010 (the "Class Period"). Investors who invested in Canadian Solar are advised to contact Nicola Brown at 888-476-6529 or nbrown@pomlaw.com.
Canadian Solar Inc. is one of the world's largest solar companies that designs, manufactures and delivers solar products and solar system solutions for on-grid and off-grid use to customers worldwide. The investigation centers on the June 1, 2010 disclosure that the Company was postponing the release of its financial results for the first quarter ended March 31, 2010, as a result of the commencement of an investigation by the Audit Committee of the Company's Board of Directors. The Company further disclosed that the investigation was launched after the Company received a subpoena from the United States Securities and Exchange Commission requesting documents from the Company relating to, among other things, certain sales transactions in 2009. As a result of this revelation, Canadian Solar securities fell $1.69 or 14%.
The Pomerantz Firm, with offices in New York, Chicago, Washington, D.C., Columbus, Ohio and Burlingame, California, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members.