NEW YORK, July 3, 2010 (GLOBE NEWSWIRE) -- The Rosen Law Firm reminds investors of the August 2, 2010 lead plaintiff deadline in the class action lawsuits variously filed on behalf of purchasers of the securities of Canadian Solar Inc. (Nasdaq:CSIQ) ("Canadian Solar" or the "Company"), including purchasers of common stock, call options, and/or sellers of put options between May 26, 2009 to June 1, 2010, inclusive (the "Class Period").
To join the Canadian Solar class action, go to the website at http://www.rosenlegal.com or call Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653 or you may also email lrosen@rosenlegal.com or pkim@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
The actions allege that Canadian Solar and certain of its officers and directors issued materially false and misleading statements concerning the Company's financial condition, business and operations. Particularly, the complaints assert that certain of the Company's revenues may have been improperly recorded from sales for which the Company had not been paid, and that certain goods had been returned after the end of the quarter. According to the complaints, Canadian Solar reported the commencement of an investigation by the Audit Committee of the Company's Board of Directors. The Company announced that it may revise its previously reported revenues for 4Q09 and the 2009 fiscal year. As a result of the investigation, Canadian Solar postponed both the release of its 1Q2010 financial results and its quarterly conference call. As a result of these and related adverse disclosures, Canadian Solar's share price has dropped substantially, damaging shareholders.
If you wish to serve as lead plaintiff, you must move the Court no later than August 2, 2010. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact Laurence Rosen, Esq. or Phillip Kim, Esq. of The Rosen Law Firm toll-free at 866-767-3653 or via e-mail at lrosen@rosenlegal.com or pkim@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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