Class Action Lawsuit Against LDK Solar Receives Preliminary Approval of Class Action Settlement
A class action settlement involving LDK Solar has received preliminary approval by a United States District Court Judge in the Northern District of California, according to an LDK Solar class action settlement news report. The LDK Solar class action settlement will not be final until the settlement class is notified and the court grants final class action settlement approval.
According to reports, LDK Solar has agreed to pay $16 million to settle the class action lawsuit that reportedly alleged that LDK Solar made a series of misrepresentations to the market by overstating its polysilicon inventory by 25%, which allegedly artificially inflated the company’s share price between August 1 and October 3, 2007.
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