JA Solar Holdings Co. Ltd : American Depositary Shares Securities Litigation (2018)

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Lawsuit Overview

Defendant:JA Solar Holdings, Co., Ltd.
Date Filed:December 20th, 2018
Sector:Technology
Industry:Semiconductors
Class Start Date:November 20th, 2017
Class End Date:July 16th, 2018

Plaintiff's law firm issued a press release on December 21, 2018, announcing the filing of the lawsuit. According to the press release, on July 16, 2018, JA Solar, purported to be one of the world's largest manufacturers of high-performance solar power products, completed its merger (the "Merger") with JASO Top Holdings Limited ("JASO Top"), JASO Holdings Limited ("Holdco"), JASO Parent Limited ("Parent"), and JASO Acquisition Limited ("Merger Sub") pursuant to the agreement and plan of merger dated November 17, 2017 by and among the parties. As a result of the Merger, the Company ceased to be a publicly traded company on the NASDAQ stock exchange.

The Complaint alleges that JA Solar shareholders were misled into accepting consideration from the Merger that was well below fair value for their JA Solar shares. Specifically, Defendants failed to disclose: (1) that the Company's Proxy materials misrepresented and/or omitted material information that was necessary for Company shareholders to make an informed decision concerning whether to vote in favor of the Merger; (2) that contrary to the representations in the Proxy, the Company already had plans to relist its shares in China prior to closing the Merger and its delisting from the NASDAQ; and (3) as a result, the Company's statements about its business, operations, and prospects lacked a reasonable basis.

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First Identified Complaint

ODS Capital LLC, et al. v. JA Solar Holdings Co. Ltd, et al.

Date Filed:December 20th, 2018
Class Period Start:December 11th, 2017
Class Period End:July 16th, 2018
First Identified Complaint Filings
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