Pomerantz LLP filed a securities class action against First Solar Inc. over alleged tariff and production misstatements. The lawsuit covers investors who bought FSLR securities from Feb. 26, 2025 to Feb. 24, 2026. Multiple law firms have filed similar suits with an Aug. 24 lead plaintiff deadline.
Pomerantz LLP sued First Solar Inc. in a securities class action over alleged tariff and production misstatements affecting its $4.9 billion guidance.
The complaint, filed in the US District Court for the Eastern District of New York under docket 26-cv-03787, alleges the company and certain officers violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The class covers investors who bought First Solar securities between Feb. 26, 2025 and Feb. 24, 2026.
First Solar misled investors about its ability to mitigate the impact of US tariffs on its operations, the complaint alleges. The company overstated its capacity to shift production from Malaysia and Vietnam to the United States, according to the filing. When the market learned the truth about First Solar's tariff exposure and production constraints, investors suffered damages, the lawsuit claims.
The Schall Law Firm has also announced a separate class action with the same class period, setting an Aug. 24, 2026 deadline for lead plaintiff motions. At least three securities class action lawsuits have been filed against First Solar since February, court records show. The Pomerantz action targets the company along with certain of its top officials.
First Solar maintains its 2026 guidance for 17.0 GW to 18.2 GW of volume sold and $4.9 billion to $5.2 billion in net sales. Analysts project a 10.4% decline in fiscal second-quarter earnings per share to $2.85, according to consensus estimates. Published analyst price targets range from $217 to $330, reflecting divergent views on tariff outcomes, tax credit benefits and power demand growth.
The legal overhang compounds existing uncertainty around US trade policy. A Section 232 tariff ruling expected by early August could determine whether First Solar's domestically produced modules command a pricing premium over imports from Asian competitors. Investors will watch the lead plaintiff deadline on Aug. 24 for signals on how aggressively shareholders plan to pursue the claims.
This article is for informational purposes only and does not constitute investment advice.
