FIRST SOLAR ALERT: Bragar Eagel & Squire, P.C. Announces that a Class Action Lawsuit Has Been Filed Against First Solar, Inc. and Encourages Investors to Contact the Firm

NEW YORK–(BUSINESS WIRE) – Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, announces that a class action lawsuit has been filed against First Solar, Inc. (“First Solar” or the “Company”) (NASDAQ: FSLR) in the United States District Court for the District of Arizona on behalf of all individuals and legal entities who purchased or otherwise acquired securities of First Solar between February 22, 2019 and February 20, 2020, both days inclusive (the “Class Period”). Investors have until March 8, 2022 to apply to the court for appointment as the lead plaintiff in the litigation.

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On January 15, 2020, Barclays reported that First Solar was “apparently largely priced out of the US downstream solar market,” and that the company had been masking its rapidly declining market share through misleading financial reporting by adding projects to its project development pipeline that had been in place in previous years actually completed.

As a result of this news, First Solar’s stock fell $ 4.03, or 7%, to close at $ 54.75 per share on January 15, 2020, hurting investors.

Then, on February 6, 2020, Barclays stated that First Solar had “made more aggressive bids, resulting in lower bids” in an attempt to regain its market share. [Project Development contract] Prices and ultimately margin cuts. ”

On that news, First Solar’s stock fell $ 0.45 to close at $ 52.65 per share on February 6, 2020, further hurting investors.

Then, on February 20, 2020, First Solar announced that it was considering a sale of its project development business. The company also announced that it has “challenges related to certain aspects of total cost-per-watt” and will not meet its cost-per-watt targets.

As a result of this news, First Solar’s stock fell $ 8.73, or 15%, to close at $ 50.59 per share on February 21, 2020, further hurting investors.

If you have bought or otherwise acquired First Solar stock and have suffered a loss, are a long-term shareholder, have information, want to learn more about these claims, or have questions about this release or your rights or interests in relation to these matters, please contact please email Brandon Walker or Alexandra Raymond at [email protected], call (212) 355-4648, or fill out this contact form. There are no costs or obligations for you.

About Bragar Eagle & Squire, PC:

Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York, California and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivatives and other complex litigation in state and federal courts across the country. More information about the company can be found at www.bespc.com. Lawyer advertising. Previous results do not guarantee similar results.

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