Jun 19, 2015, 10:06 ET
NEW YORK, June 19, 2015 /PRNewswire/ -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired American Depositary Shares of Yingli Green Energy Holding Company Limited ("Yingli") (NYSE: YGE) between March 18, 2014 and May 15, 2015.
You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Central District of California. If you purchased or otherwise acquired Yingli American Depositary Shares between March 18, 2014 and May 15, 2015, your rights may be affected by this action. To get more information go to:
or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (a) the Company was inappropriately recognizing revenue; (b) the Company had no reasonable prospects to collect on certain accounts receivable based on historical customer conduct; (c) the Company was no longer able to borrow from commercial banks to fund its operations; and (d) the Company's inability to raise additional capital or borrow funds from commercial banks threatened its ability to continue.
On May 15, 2015, the Company filed its Annual Report with the SEC, disclosing that there is doubt that Yingli can remain solvent.
If you suffered a loss in Yingli you have until July 27, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
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SOURCE Levi & Korsinsky, LLP
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