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SAN FRANCISCO, CA / ACCESSWIRE / December 8, 2021 / Hagens Berman urges ReneSola Ltd. (NYSE:SOL) investors with significant losses to submit your losses now. The firm is investigating possible securities law violations.
Contact An Attorney Now:SOL@hbsslaw.com
ReneSola Ltd. (SOL) Investigation:
The investigation focuses on ReneSola's statements about its purported development, construction, operation, and sales of solar power projects in Europe.
More specifically, ReneSola has repeatedly touted its increasing number of late-stage projects throughout Europe, which would soon be ready to sell project rights at "notice to proceed", or "NTP."
But, on Dec. 2, 2021, analyst Grizzly Research published a scathing report entitled "We believe ReneSola is a Fraudulent Company; Most Projects Never Existed." According to the report: (1) "[o]ur on the ground due diligence, filings review, and communications with local municipalities in Europe indicate SOL has been vastly misrepresenting its project development pipeline;" (2) "[m]ost of SOL's projects are in Europe, but our research indicates that most of these projects seemingly do not exist;" (3) "SOL might have fabricated projects to give the appearance of a better development pipeline and future economics;" and, (4) "[w]orse yet, SOL continuously categorizes projects as ‘late-stage', and close to finalization, that our research shows to be either non-existent or delayed for years."
This news drove the price of ReneSola American Depositary Shares sharply lower.
"We're focused on investors' losses and whether ReneSola and its management lied to investors about the existence and developmental stage of its purported projects," said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in ReneSola and have significant losses, or have knowledge that may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding ReneSola should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email SOL@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national law firm with eight offices in eight cities around the country and over eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 844-916-0895
SOURCE: Hagens Berman Sobol Shapiro LLP
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