Investigation Overview
May 26, 2015 (Shareholders Foundation) - An investigation on behalf of investors of Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE:YGE) shares over potential securities laws violations by Yingli Green Energy Hold. Co. Ltd. and certain of its directors and officers in connection certain financial statements was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE:YGE) concerning whether a series of statements by Yingli Green Energy Hold. Co. Ltd. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On March 25, 2015, Yingli Green Energy Hold. Co. Ltd. reported its fourth quarter and full year 2014. Yingli Green Energy Hold. Co. Ltd. announced that its annual Total Revenue declined from $2.16 billion in 2013 to over $2.08 billion in 2014 and that its Net Loss declined from $313.85 million to $209.81 million. Yingli Green Energy Hold. Co. Ltd. also issued its business outlook for the full year 2015.
On May 15, 2015, tYingli Green Energy Hold. Co. Ltd. announced that it filed its annual report on Form 20-F for the year ended December 31, 2014 with the U.S. Securities and Exchange Commissionon May 15, 2015. Among, other things, Yingli Green Energy Hold. Co. Ltd. said that there is substantial doubt Yingli Green Energy Hold. Co. Ltd. can remain solvent, stating, that its substantial indebtedness and net loss may adversely affect its business, financial condition and results of operations, as well as its ability to meet its payment obligations.
On May 19, 2015, a news report said that Yingli Green Energy Hold. Co. Ltd. was seeking additional investors to assist Yingli Green Energy Hold. Co. Ltd. in making payments on its debt.
Shares of Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE:YGE) declined from $6.89 per share in early 2014 to as low as $0.72 per share on May 19, 2015.