29 May '15, 11am

Class action lawsuits hit Yingli Green over going concern issues

Yingli Green Energy has been hit with several US-based proposed class action lawsuits over its statements in its delayed 2014 annual report regarding its going concern issues. Financials YGE NYSE 1.01 -0.01 (-0.98%) 4:06PM EDT Tier-one integrated PV manufacturer Yingli Green Energy has been hit with several US-based proposed class action lawsuits over its statements in its delayed 2014 annual report regarding its going concern issues. Yingli Green has responded saying the actions are “without merit” and would “vigorously defend itself in this matter”, even though it has yet to be served with copy of the complaint. One of the lawsuits planned by Glancy Prongay & Murray LLP on behalf of investors cited a number of complaints outside the going concern issues. These included a claim that Yingli Green had inappropriately recognised revenue and had “no reasonable prospects to co...

Full article: http://www.pv-tech.org/news/class_action_lawsuits_hit_yin...

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