Peters v. Jinkosolar Holding Co., Ltd.
The Firm is co-lead counsel representing co-lead plaintiffs in a securities class action against a U.S.-listed Chinese company, JinkoSolar Holdings Co. Ltd., certain of its directors and officers, and offering underwriters on behalf of investors who suffered losses as a result of the solar manufacturer’s fraud and the underwriters’ failures. The Firm obtained a substantial victory on appeal after successfully persuading the Second Circuit Court of Appeals to reverse the lower court’s order dismissing the action. The decision paved the way for investors to pursue claims in a case where the company’s ADSs lost over 40% of their value as a result of omissions in the company’s prospectuses concerning environmental controls. On March 11, 2016, the court granted final approval to a $5.05 million settlement.