Tag Archives: Lehman Brothers

Evergreen Solar (ESLR) and JA Solar (JASO) Stock Drop Significantly Due To Recent Deals With Lehman Brothers

 Shares of both Evergreen Solar and JA Solar have experienced significant loss in value over the past couple of days due to their dealings with now-bankrupt investment banking giant Lehman Brothers. In June, Evergreen Solar lent Lehman Brothers 30,856,538 shares for hedging transactions, and buyers are afraid that Evergreen won’t get the money back for those shares. Prices dropped by $1.70/share yesterday, down to $4.60.

Michael El-Hillow, Chief Financial Officer, released the following statementRead the rest