LDK Solar (LDK) Investors Receive Class Certification In Lawsuit

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08:46:44 am on February 2, 2009

The class action suit against LDK Solar took another step forward last week when Judge William Alsup approved a class consisting of anyone who purchased LDK shares. According to Law360, the lawsuit alleges that "LDK Solar Co. Ltd. and its executives committed a massive securities fraud by inflating the value of the company’s inventory of raw materials and understating the costs of producing solar wafers, which are used in devices that convert sunlight into electricity."

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