According to the Complaint, First Solar Inc. is a manufacturer of solar panels and powerplants, which it installs at project development sites or sells to third parties.

The Complaint alleges that, throughout the Class Period, Defendants made repeated misrepresentations to investors regarding the development of its newest “Series 6” solar module, the cost per unit it could achieve with that module, and the impact the changeover to this new product would have on the viability of its other business segments. As a result of Defendants’ alleged misrepresentations, First Solar common stock traded at artificially inflated prices during the Class Period.

On April 25, 2022, the Court issued an Order appointing Lead Plaintiffs and Counsel. Lead Plaintiffs filed an amended Complaint on June 23. Defendants filed a Motion to Dismiss the amended Complaint on August 22.

On January 11, 2023, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiffs were given leave to amend the Complaint. On February 10, Lead Plaintiffs filed a second amended Complaint. Defendants filed a Motion to Dismiss the second amended Complaint on February 24. On June 23, the Court issued an Order granting Defendants' Motion to Dismiss. The case was dismissed with prejudice. Judgment was entered in favor of the Defendants on July 14.