Labaton Keller Sucharow is co-lead counsel in a securities class action lawsuit against JA Solar Holdings Co. Ltd. (JA Solar) and certain of its executives. A settlement was reached that resolves claims on behalf of all persons who sold JA Solar ADSs, ordinary shares, or long position cash-settled equity swaps referencing JA Solar ADSs (JA Solar Securities) during the period from November 20, 2017, through July 16, 2018, inclusive (the Class Period) and/or canceled or tendered shares of JA Solar Securities in exchange for the right to receive the consideration of JA Solar’s take-private transaction (the Merger) that closed on July 16, 2018, and were allegedly damaged thereby.
The Court in charge of the case is the United States District Court for the Southern District of New York. The Litigation involves allegations that Defendants violated provisions of the Exchange Act by allegedly making misrepresentations and/or omissions of material fact in public statements to the investing public regarding: (i) Defendants’ intention to relist the Company on any other stock exchange after completion of the Merger; (ii) Defendants’ intention to keep the Company private; (iii) the value of the Company’s securities leading up to the Merger; (iv) the fairness of the consideration exchanged for securityholders’ securities in the Merger; and (v) the likelihood of the Merger being completed based on the number of securityholders that dissented from the Merger. The Consolidated Amended Class Action Complaint alleges that the misstatements or omissions artificially depressed the price of JA Solar Securities in order to avoid paying a fair price to JA Solar securityholders during the Merger.
The case is ODS Capital LLC v. JA Solar Holdings Co. Ltd. et al., No. 18-cv-12083 (S.D.N.Y.). Labaton Keller Sucharow represents co-lead plaintiff ODS Capital LLC.
Submit Claim Form
If you sold JA Solar Securities during the period from November 20, 2017, through July 16, 2018 (the effective date of the Merger), inclusive, for the right to receive the consideration of the Merger that closed on July 16, 2018, and/or your JA Solar Securities were canceled or tendered in exchange for the right to receive the Merger consideration, you may be entitled to a payment from a class action settlement. To be eligible for a payment, you must submit a Claim Form to the Claims Administrator by July 8, 2023.
Settlement Hearing
The Settlement Hearing will be held on July 13, 2023, at 11:00 a.m. EDT, remotely by telephone. To join, please contact the Court at 1-888-363-4749 and enter 3768660 for the access code. If you have questions about the Settlement, please contact Labaton Keller Sucharow at settlementquestions@labaton.com or 1-888-219-6877, or contact the Claims Administrator, at 1-833-632-0286.
