May 13, 2011 - The court approved the settlement, entered the orders approving the plan of allocation, the motion for attorneys’ fees and expenses, and dismissed the action with prejudice.
September 29, 2010 - The court preliminarily approved the settlement.

October 16, 2009 - Parties filed a stipulation of settlement.

January 26, 2009 - The defendants filed a motion to dismiss.

December 8, 2008 - The lead plaintiffs filed an amended consolidated complaint.

September 29. 2008 - The lead plaintiffs and lead counsel were appointed and all cases were consolidated.

November 9. 2007 - Lead plaintiff motions were filed.

October 31, 2007 - An additional investor filed a complaint.

October 5, 2007 - Another investor filed a complaint.

September 9, 2007 - An investor in American Depositary Shares (ADS) of China Sunergy Co Ltd (NASDAQ: CSUN) filed a lawsuit in the U.S. District Court for the Southern District of New York against China Sunergy Co Ltd over alleged violations of Federal Securities Laws.

According to the complaint the plaintiff charges certain of its officers and directors, and China Sunergy Co Ltd’s underwriters with including, or allowing the inclusion of, materially false and misleading statements in the registration statement and prospectus issued in connection with the IPO, in violation of the Securities Act of 1933.

Particularly, the complaint charges that China Sunergy Co Ltd raised over $107.52 million through the issuance of 9.775 million shares, despite the registration statement’s false and misleading statements that China Sunergy Co Ltd: (1) was a “leading manufacturer of solar cell products, as measured by production capacity” that was experiencing remarkable revenue growth; and (2) had secured a sufficient supply of polysilicon, a raw material necessary to the continued production of its solar cell products. Yet at the time of the IPO and unbeknownst to shareholders, the registration statement failed to disclose that China Sunergy Co Ltd was already having difficulty obtaining a sufficient supply of polysilicon, which foreseeably would have a near-term adverse impact on earnings.

On July 3, 2007, only weeks after the IPO, China Sunergy Co Ltd issued a press release announcing preliminary results for 2Q:07 well below guidance, and claimed that it could suddenly not obtain critical raw materials necessary for production and its revenue goals. China Sunergy Co Ltd’s press release stated that “the relatively tight supply of polysilicon affected the quality, quantity and delivery of wafers and drove up overall wafer prices in the spot market, resulting in increased pressure on China Sunergy Co Ltd’s margins.”

The complaint further alleges that on this news, shares of China Sunergy Co Ltd fell nearly 25% in a single trading day, from a high of $14.90 on July 2, 2007, to a close of $11.28 the following day, on exceedingly high volume of 3.659 million shares. As the impact of China Sunergy Co Ltd’s belated disclosures resonated in the market, shares of the Company continued to decline, to about $7.50 per share by August 23, 2007. Shares fell significantly lower days later, to below $5.00 per share — on news that the China Sunergy Co Ltd’s CFO was resigning – after China Sunergy Co Ltd revealed a loss of at least $.14 per share for 2Q:07. In all, China Sunergy Co Ltd shares fell from $16.70 per share from the highs following the IPO, to a low of below $5.00 per share — all within approximately 10 weeks.