aspen_banner.jpg
Arizona Public Radio | Your Source for NPR News
Play Live Radio
Next Up:
0:00
0:00
Available On Air Stations

Arizona Solar Company Settles $350M Lawsuit With Investors

SolarPanels.jpg
McKenzie Jones
/

A Tempe-based solar system production company has agreed to settle a $350 million lawsuit brought by investors who bought or acquired company shares between April 2008 and February 2012. 

The Arizona Republic reported Tuesday that the First Solar Inc. agreement settles a lawsuit filed in 2012, a day before jury selection was scheduled to begin.

Law firm officials representing investors say the lawsuit alleged that First Solar violated securities law by hiding a manufacturing defect.

Officials say tens of thousands of individual investors and other institutions were affected.

Company officials say the settlement won't include an admission of liability, wrongdoing or responsibility.

 

Related Content