SEATTLE, June 30, 2010 (GLOBE NEWSWIRE) -- Hagens Berman announced that an expanded class period for a class-action lawsuit filed against Canadian Solar, Inc allows more CSIQ purchasers to benefit from the ongoing and in-depth investigation by Hagens Berman. The longer complaints on behalf of investors who purchased the common stock of CSIQ expanded the "Class Period" from May 26, 2009 to June 1, 2010 (the "Class Period").
CSIQ purchasers are encouraged to provide information at www.hbsslaw.com/canadian-solar. Hagens Berman intends to file a separate suit shortly that will include new and more detailed findings relating to CSIQ's operations and the secondary stock offering in October 2009.
The original lawsuits were filed after a June 1, 2010 press release in which the company revealed that the SEC issued subpoenas relating to 2009 sales transactions. The complaints allege that Canadian Solar, Arthur Chien and Shawn Qu made false and/or misleading statements and/or failed to disclose information about the company's revenues and internal controls.
To serve as a lead plaintiff in this class-action lawsuit, you must move the Court no later than August 2, 2010. Any investor who purchased during the Class Period may move the Court to serve as lead plaintiff through counsel of their choice. Investors also may choose to do nothing and remain an absent class member.
If you have losses greater than $100,000.00 and would like to discuss your legal rights or move to be a lead plaintiff, you may e-mail or call Reed Kathrein, Managing Partner of the Hagens Berman San Francisco office, without obligation or cost to you, at 510-725-3000, or by e-mail at csiq@hbsslaw.com. Hagens Berman also welcomes any information you may have that would advance the investigation.
To learn more about Hagens Berman, please visit www.hbsslaw.com, or visit our law blog at www.meaningfuldisclosure.com
About Hagens Berman
Hagens Berman LLP is a shareholder-rights class-action law firm with offices in San Francisco, Seattle, Chicago, Boston, Los Angeles, and Phoenix. Since 1993, HBSS continues to successfully fight for consumer rights in large, complex litigation. More about the law firm and its successes can be found at www.hbsslaw.com.