| Company: | China Sunergy Co. Ltd. |
| Ticker Symbol: | NASD: CSUN |
| Initial Public Offering: | May 17, 2007 |
| Date Filed: | Sep-14-07 |
| Lead Plaintiff Deadline: | Nov-12-07 |
| Court: | Southern District, NY |
| Allegations: |
A class action lawsuit has been filed against China Sunergy Co. Ltd. (CSUN) on behalf of shareholders in connection with the Company's IPO on or about May 17, 2007, or who purchased shares thereafter in the open market. No class has yet been certified in this action.
Particularly, the Complaint charges that China Sunergy failed to disclose that it was already having difficulty obtaining a sufficient supply of polysilicon, which foreseeably would have a near-term adverse impact on earnings.
On July 3, 2007, only weeks after the IPO, China Sunergy announced preliminary results for second quarter of 2007 well below guidance, and claimed that it could suddenly not obtain critical raw materials necessary for production and its revenue goals.
On this news, shares of China Sunergy fell nearly 25% in a single trading day, from a high of $14.90 on July 2, 2007, to a close of $11.28 the following day, on exceedingly high volume of 3.659 million shares. In all, China Sunergy shares fell from $16.70 per share from the highs following the IPO, to a low of below $5.00 per share -- all within approximately 10 weeks.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
Particularly, the Complaint charges that China Sunergy failed to disclose that it was already having difficulty obtaining a sufficient supply of polysilicon, which foreseeably would have a near-term adverse impact on earnings.
On July 3, 2007, only weeks after the IPO, China Sunergy announced preliminary results for second quarter of 2007 well below guidance, and claimed that it could suddenly not obtain critical raw materials necessary for production and its revenue goals.
On this news, shares of China Sunergy fell nearly 25% in a single trading day, from a high of $14.90 on July 2, 2007, to a close of $11.28 the following day, on exceedingly high volume of 3.659 million shares. In all, China Sunergy shares fell from $16.70 per share from the highs following the IPO, to a low of below $5.00 per share -- all within approximately 10 weeks.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
