Faruqi & Faruqi, LLP Announces Investigation of JinkoSolar Holding Co., Ltd.
Faruqi & Faruqi, LLP, a national law firm concentrating on investor rights is investigating potential wrongdoing at JinkoSolar Holding Co., Ltd., (“JinkoSolar” or the “Company”) (NYSE: JKS). Faruqi & Faruqi, LLP seeks to determine whether certain of JinkoSolar’s officers and directors have violated federal securities laws. Faruqi & Faruqi is also investigating claims against lead underwriter Credit Suisse Securities (USA) LLC and other investment banks that underwrote JinkoSolar’s May 13, 2010 IPO.
JinkoSolar, which is a global leader in the manufacture of photovoltaic products, launched its IPO in the United States on May 13, 2010, issuing 5,835,000 ADSs (23,340,000 shares) to trade on the New York Stock Exchange. In the Company’s IPO Prospectus, Registration Statement, and subsequent SEC filings, JinkoSolar assured investors that it was in full compliance will all PRC environmental regulations.
On September 19, 2011, JinkoSolar was forced to shut down its plant in Haining city after several days of protests by hundreds of residents, who claimed the plant polluted the air and local waterways. Chen Hongming, deputy head of the People’s Republic of China’s environmental protection bureau, revealed thatJinkoSolar’s Haining city waste disposal system has failed regulatory checks since April of 2011 and that the bureau has repeatedly notified the factory about its pollution problem. In reaction to news of the factory shutdown, JinkoSolar’s ADSs fell 28% to close at $6.50 per share on September 19, 2011.
If you purchased JinkoSolar securities between May 13, 2010 and September 21, 2011 and you would like to discuss your legal rights, contact us by calling Anthony Vozzolo or Richard W. Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com or firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding JinkoSolar’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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