Lawsuit Overview
November 30, 2020 - The court granted the defendants' motion to dismiss.
February 28, 2020 - A motion to dismiss the consolidated amended complaint was filed.
June 14, 2019 - A consolidated amended complaint was filed.
December 20, 2018 - An investor in shares of JA Solar Holdings Co., Ltd. (ADR) (NASDAQ:JASO), filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by JA Solar Holdings Co., Ltd. in connection with certain allegedly false and misleading statements made between December 11, 2017 and July 16, 2018.
On November 17, 2017, JA Solar Holdings Co., Ltd. (ADR) (NASDAQ:JASO) announced that it has entered into an agreement and plan of merger with JASO Holdings Limited (“Holdco”), JASO Parent Limited (“Parent”), a wholly owned subsidiary of Holdco, and JASO Acquisition Limited (“Merger Sub”), a wholly owned subsidiary of Parent, pursuant to which the Company will be acquired by an investor consortium in an all-cash transaction implying an equity value of the Company of approximately $362.1 million. Pursuant to the terms of the Merger Agreement, each ordinary share of the Company issued and outstanding immediately prior to the Effective Time (each a “Share”) will be cancelled and cease to exist in exchange for the right to receive $1.51 in cash without interest, and each American depositary share (each an “ADS”) of the Company, representing 5 Shares, will be cancelled in exchange for the right to receive $7.55 in cash without interest. A mere three days later, it was revealed that JA Solar Holdings Co., Ltd would be acquired by Tianye Tonglian in a reverse merger, allowing JA Solar Holdings Co., Ltd to return to the stock market by relisting on the Shenzhen Stock Exchange at a multiple.