DENVER, June 2, 2010 (GLOBE NEWSWIRE) -- The law firm of Dyer & Berens LLP (www.DyerBerens.com) announced today that it has initiated its own investigation concerning losses suffered by certain Canadian Solar Inc. investors (Nasdaq:CSIQ).
On June 1, 2010, the company postponed the release of its full financial results for the first quarter ended March 31, 2010 and its quarterly conference call, scheduled for June 2, as a result of the commencement of an investigation by its audit committee. The investigation was reportedly launched after Canadian Solar 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. The company further announced that it may have to revise earnings from the fourth quarter 2009, based on an accounting change being made to recognize sales only after receiving full cash payments "from certain customers and due to certain subsequent return of goods after the quarter end." On this news, Canadian Solar's stock price plummeted.
If you are a Canadian Solar shareholder and believe you were harmed by the conduct described above or have information relevant to the investigation, you may contact Jeffrey A. Berens, Esq. at (888) 300-3362, (303) 861-1764 x302 or via email at jeff@dyerberens.com.
The law firm of Dyer & Berens LLP focuses on complex class action litigation on behalf of injured investors throughout the nation. The firm's extensive experience in securities litigation, particularly in cases brought under the Private Securities Litigation Reform Act, has contributed to the recovery of hundreds of millions of dollars for aggrieved investors. For more information about the firm, please go to www.DyerBerens.com.