NEW YORK, Dec. 26, 2018 /CNW/ -- Pomerantz LLP is investigating claims on behalf of investors of JA Solar Holdings Co., Ltd. ("JA Solar" or the "Company") (NASDAQ: JASO). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether JA Solar and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On July 16, 2018, JA Solar, a manufacturer of high-performance solar power products, completed its merger (the "Merger") with JASO Top Holdings Limited ("JASO Top"), JASO Holdings Limited ("Holdco"), JASO Parent Limited ("Parent"), and JASO Acquisition Limited ("Merger Sub") pursuant to the agreement and plan of merger dated November 17, 2017 by and among the parties. Following the Merger, the Company ceased being publicly traded on the NASDAQ. However, shortly after the Company's was delisted from the NASDAQ, it was announced that the now controller of JA Solar had signed an "Important Assets Reorganization Intention Agreement" with Chinese-based company Tianye Tolian for the purchase of 100 percent equity of JA Solar via issuance of shares. The structure of this deal operated as a "backdoor listing", which allowed JA Solar to be relisted on the Shenzhen Stock Exchange at a multiple, to the detriment of shareholders who unknowingly sold JA Solar's stock and ADS at substantially deflated values during the Class Period as part of the scheme.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
SOURCE Pomerantz LLP