An investigation on behalf of investors in Canadian Solar Inc. (NASDAQ: CSIQ) over possible violations of Federal Securities Laws by Canadian Solar Inc. was announced.

Canadian Solar Inc., located in Suzhou, China, designs, develops, manufactures and sells solar cell and module products that convert sunlight into electricity for a variety of uses. Canadian Solar Inc. reported in 2007 Total Revenue of $302.80million, in 2008 $705.01million, and in 2009 $664.76million.

According to the investigation by a law firm the investigation on behalf of CSIQ investors focuses on the following events. On June 1, 2010, Canadian Solar postponed the release of its full financial results for the first quarter ended March 31, 2010 and its quarterly conference call, scheduled for June 2, as a result of the commencement of an investigation by its audit committee. The investigation was reportedly launched after Canadian Solar received a subpoena from the United States Securities and Exchange Commission (SEC) requesting documents from Canadian Solar relating to, among other things, certain sales transactions in 2009.

Canadian Solar further announced that it may have to revise earnings from the fourth quarter 2009, based on an accounting change being made to recognize sales only after receiving full cash payments 'from certain customers and due to certain subsequent return of goods after the quarter end.' The Companys June 1, 2010 press release stated, in part, the following: The investigation was launched after the Company received a subpoena from the Securities and Exchange Commission (SEC) requesting documents from the Company relating to, among other things, certain sales transactions in 2009. The Audit Committee has retained outside counsel and independent forensic accountants to assist in reviewing, among other things, the transaction described in the subpoena. On this news, so the investigation, Canadian Solar's stock price (CSIQ) declined. Shares of Canadian Solar Inc. (CSIQ) traded recently at $10.15 per share, down from its 52weekHigh of $33.68 per share, and over $45 per share in 2008.