Izard Nobel LLP Announces Class Action Lawsuit Against JA Solar Holdings Co., Ltd.

• Press Release
• Source: Izard Nobel LLP
• On 5:30 pm EST, Wednesday December 3, 2008

HARTFORD, CT--(MARKET WIRE)--Dec 3, 2008 -- The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Southern District of New York on behalf of those who purchased the American Depository Shares ("ADS") of JA Solar Holdings Co., Ltd. ("JA Solar" or the "Company") (NasdaqGM:JASO - News) between August 12, 2008 and November 12, 2008, inclusive (the "Class Period").

Related Quotes

Symbol	Price	Change
JASO	4.40	+0.15

{"s" : "jaso","k" : "c10,l10,p20,t10","o" : "","j" : ""}

The Complaint charges that JA Solar and certain of its officers and directors violated federal securities laws. Specifically, defendants failed to disclose: (i) that JA Solar purchased from a subsidiary of Lehman Brothers Inc. ("Lehman Brothers") a three month, $100 million note (the "Lehman note") on or about July 9, 2008 and at the time of this purchase, Lehman Brothers, which guaranteed the Lehman note, was under severe financial distress; (ii) that the value of JA Solar's investment in the Lehman note had diminished considerably; and (iii) that, as a result of the foregoing, defendants' positive statements concerning JA Solar's financial performance, outlook and earnings guidance were materially false and misleading.

After JA Solar fully disclosed and recorded an impairment in the value of its investment in the Lehman note, on November 12, 2008, JA Solar fell to $2.38 per share, a decline of over 87% from the Class Period high.

If you are a member of the class, you may, no later than February 2, 2009, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.

While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit: www.izardnobel.com/jasolar/, or contact Izard Nobel LLP toll-free at (800) 797-5499, or by e-mail: firm@izardnobel.com. For more information about class action cases in general, please visit our website: www.izardnobel.com.

     CONTACT:
     Nancy A. Kulesa or Wayne Boulton
     Tel.: (800) 797-5499
     Website: http://www.izardnobel.com
     e-mail: Email Contact