LONDON, ON, Aug. 10 /CNW/ - The law firm of Siskinds LLP today announced that it has filed a proposed securities class action against Canadian Solar Inc. (NASDAQ: CSIQ), as well as Canadian Solar's Chief Executive Officer and Chairman, Shawn Xiaohua Qu, and its Chief Financial Officer, Arthur Chien. The action has been filed in the Ontario Superior Court of Justice.
The proposed class action is brought on behalf of all persons, wherever they may reside, who purchased shares of Canadian Solar over a stock exchange during the period May 26, 2009 to and including June 1, 2010 (the "Class Period").
The action relates to Canadian Solar's reported financial results for 2009. It is alleged in the action that, in 2009, Canadian Solar prematurely recognized revenue in violation of generally accepted accounting principles. The plaintiff seeks class damages of $100 million.
Siskinds LLP , one of Canada's leading class action law firms, has successfully resolved more securities class actions than any other law firm in Canada, and is counsel to the plaintiffs in a majority of the class actions filed under Ontario's new investor protection legislation -- Part XXIII.1 of the Ontario Securities Act.
Persons who purchased Canadian Solar shares during the Class Period may obtain further information by calling Nicole Young of Siskinds LLP at (800) 461-6166, ext. 2380, or by emailing Mrs. Young at firstname.lastname@example.org.
SOURCE Siskinds LLP
For further information: For further information: Media inquiries should be directed to A. Dimitri Lascaris at (800) 461-6166, ext. 7844, or by email at email@example.com.