Free Market Evaluation - Send us your resume and we will give you free feedback
Comcast and Time Warner to Discuss Merger with Department of Justice
Comcast and Time Warner to Discuss Merger with Department of Justice
Upon Net Neutrality Rules Being Published, Legal Challenge Filed
Upon Net Neutrality Rules Being Published, Legal Challenge Filed
United States Cannot Circumvent Foreign Privacy Laws, Microsoft Says
United States Cannot Circumvent Foreign Privacy Laws, Microsoft Says
$150 Million Awarded to the Family of 4-Year-Old Killed In Jeep Fire
$150 Million Awarded to the Family of 4-Year-Old Killed In Jeep Fire

JinkoSolar Holding Co Lawsuit to Proceed [post_view]

JinkoSolar

A shareholder lawsuit against JinkoSolar Holding Co will continue based on a ruling from a U.S. appeals court, according to Reuters.

The company makes solar panels and is from China. The lawsuit was filed due to claims that the company concealed the fact that one of its factories was dumping toxic waste into a river.

The ruling came from the 2nd U.S. Circuit Court of Appeals in New York. The ruling overturned a ruling from a lower court in January of 2013. The lower court dismissed the case filed against JinkoSolar and the company’s underwriters. The lawsuit was sent back to U.S. District Judge Paul Oetken.

According to the ruling from the appeals court, the company’s failure to disclose “ongoing, serious pollution problems” in two stock offering prospectuses from 2010 “rendered misleading” statements regarding its efforts to comply with environmental laws in China.

Get JD Journal in Your Mail
Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




In the May 2010 prospectus for the company’s initial public offering, JinkoSolar said that it installed equipment to lower pollution. The company also said that it hired environmental monitoring teams to make sure the company was complying with Chinese standards.

Circuit Judge Ralph Winter wrote the opinion for a three-judge 2nd Circuit panel. He said the following:

“These descriptions did not guarantee 100% compliance 100% of the time. Such compliance may often be unobtainable, and reasonable investors may be deemed to know that. However, investors would be misled … if in fact the equipment and 24-hour team were then failing to prevent substantial violations of the Chinese regulations.”

Leave a Reply

Tagged: , ,

Posted by on July 31, 2014. Filed under Business News. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.