Abraham, Fruchter & Twersky, LLP Announces That It Has Been Retained to File a Class Action With Respect to the Recent IPO of GT Solar International, Inc.
NEW YORK, NY--(Marketwire - August 4, 2008) - Abraham, Fruchter & Twersky, LLP ("AF&T") has
been retained to file a class action law suit arising out of the initial
public offering ("IPO" or the "Offering") of GT Solar International, Inc.
("GT Solar" or the "Company") (NASDAQ: SOLR).
GT Solar completed its IPO of 30,300,000 shares at $16.50 per share on July
24, 2008. LDK Solar Co., Ltd. ("LDK"), GT Solar's largest customer, then
announced that it would be purchasing equipment from one of GT Solar's
competitors rather than from the Company. GT Solar's stock tumbled by more
than 20% from the IPO price.
The proceeds of the Offering, or more than $450 million, went to its
controlling shareholder, GT Solar Holdings LLC. The complaint AF&T has
prepared for its client asserts claims against, among others, GT Solar
Holdings LLC with respect to the proceeds it received from the IPO.
A lead plaintiff has not yet been appointed with respect to the class
action arising out of GT Solar's IPO. If you wish to serve as lead
plaintiff, you must move the Court by September 30, 2008. To serve as lead
plaintiff, you must meet certain requirements set forth in the applicable
law and file appropriate papers with the Court. You do not need to seek
appointment as a lead plaintiff in order to share in any recovery. You may
retain Abraham Fruchter & Twersky LLP, or other counsel of your choice, to
serve as your counsel in this action or you may choose to do nothing and
remain an absent class member.
If you wish to discuss this action, participate in this lawsuit, or have
any questions or concerns regarding this notice, or preservation of your
rights, please contact:
Contact Information: Jeffrey S. Abraham
Philip T. Taylor
Abraham, Fruchter & Twersky, LLP
One Penn Plaza, Suite 2805
New York, N.Y. 10119
Telephone: (212) 279-5050