JinkoSolar reaches lawsuit settlement to tune of $5.05 million

first_imgJinkoSolar reaches lawsuit settlement to tune of $5.05 millionChinese solar manufacturer enters into settlement relating to 2011 lawsuit brought over environmental regulation dispute to “eliminate uncertainty” and burden of further protracted litigation, says company. September 30, 2015 Ian Clover Legal Markets Markets & Policy Share JinkoSolar, the Tier-1 Chinese solar company, has reached a $5.05 million settlement in a lawsuit brought in 2011 regarding the purchase of American Depositary Shares pertaining to the alleged misrepresentation of Jinko’s compliance with Chinese environmental regulations. Should the settlement offer be approved by the New York federal court, members of the class action will be entitled to their share of the $5.05 million settlement, less any court-related charges. JinkoSolar’s insurers will part-fund the monies, with JinkoSolar stumping up the remaining bill while taking no further charges in connection with the case. For its part, JinkoSolar reiterated in a press statement its denial of any wrongdoing in relation to the allegations, stating that it has decided to reach the settlement to “eliminate the uncertainty, burden and expense of further protracted litigation.” The shares in question were issued between May 13, 2010 and September 20, 2011, prompting a class action lawsuit alleging that JinkoSolar’s filings with the U.S. Securities and Exchange Commission (SEC) obfuscated the extent of the company’s environmental compliance in China.Popular content The Hydrogen Stream: 20 MW green hydrogen plant in Finland, two Australian projects move forward Sergio Matalucci 20 April 2021 pv-magazine.com Storegga, Shell and Harbour Energy want to set up a 20 MW blue hydrogen production facility in the U.K. Australia’s Origin Energy wants to build a hy… Enabling aluminum in batteries Mark Hutchins 27 April 2021 pv-magazine.com Scientists in South Korea and the UK demonstrated a new cathode material for an aluminum-ion battery, which achieved impressive results in both speci… ITRPV: Large formats are here to stay Mark Hutchins 29 April 2021 pv-magazine.com The 2021 edition of the International Technology Roadmap for Photovoltaics (ITRPV) was published today by German engineering association VDMA. The re… Solar park built on rough wooden structures comes online in France Gwénaëlle Deboutte 26 April 2021 pv-magazine.com French company Céléwatt energized its 250 kW ground-mounted array, built with mounting structures made of raw oak wood.April 26, 2021 Gwénaëlle Debo… Spanish developer plans 1 GW solar plant coupled to 80 MW of storage, 100 MW electrolyzer Pilar Sánchez Molina 22 April 2021 pv-magazine.com Soto Solar has submitted the project proposal to the Ecological Transition and the Demographic Challenge (Miteco). The solar plant could start produc… We all trust the PV performance ratio test Dario Brivio, Partner 20 April 2021 pv-magazine.com The performance ratio test is at the core of the handover from EPC to owner. Yet sometimes, even when best practice is applied – and without particul… The Hydrogen Stream: 20 MW green hydrogen plant in Finland, two Australian projects move forward Sergio Matalucci 20 April 2021 pv-magazine.com Storegga, Shell and Harbour Energy want to set up a 20 MW blue hydrogen production facility in the U.K. Australia’s Origin Energy wants to build a hy… Enabling aluminum in batteries Mark Hutchins 27 April 2021 pv-magazine.com Scientists in South Korea and the UK demonstrated a new cathode material for an aluminum-ion battery, which achieved impressive results in both speci… ITRPV: Large formats are here to stay Mark Hutchins 29 April 2021 pv-magazine.com The 2021 edition of the International Technology Roadmap for Photovoltaics (ITRPV) was published today by German engineering association VDMA. The re… Solar park built on rough wooden structures comes online in France Gwénaëlle Deboutte 26 April 2021 pv-magazine.com French company Céléwatt energized its 250 kW ground-mounted array, built with mounting structures made of raw oak wood.April 26, 2021 Gwénaëlle Debo… Spanish developer plans 1 GW solar plant coupled to 80 MW of storage, 100 MW electrolyzer Pilar Sánchez Molina 22 April 2021 pv-magazine.com Soto Solar has submitted the project proposal to the Ecological Transition and the Demographic Challenge (Miteco). The solar plant could start produc… We all trust the PV performance ratio test Dario Brivio, Partner 20 April 2021 pv-magazine.com The performance ratio test is at the core of the handover from EPC to owner. Yet sometimes, even when best practice is applied – and without particul… The Hydrogen Stream: 20 MW green hydrogen plant in Finland, two Australian projects move forward Sergio Matalucci 20 April 2021 pv-magazine.com Storegga, Shell and Harbour Energy want to set up a 20 MW blue hydrogen production facility in the U.K. Australia’s Origin Energy wants to build a hy… 123456Share Ian Clover Ian joined the pv magazine team in 2013 and specializes in power electronics (inverters) and battery storage. Ian also reports on the UK solar market, having worked as a print and web journalist in Britain for various multimedia companies, covering topics ranging from renewable energy and sustainability to real estate, sport and film.More articles from Ian Clover [email protected] Related content The weekend read: China’s push for decarbonization Andreas Walstad 24 April 2021 pv-magazine.com The carbon market is finally a reality in China. After 10 years of delays, regional pilot schemes and general uncertaint… Graphene aluminum ion batteries with ultra-fast charging Blake Matich 29 April 2021 pv-magazine.com The “graphene revolution” is almost here. Australian scientists specializing in aluminum-ion batteries are now working w… U.K. takes another tiny step to smart energy system Ilias Tsagas 22 April 2021 pv-magazine.com Energy regulator Ofgem has announced it aims to bring in market-wide half-hourly settlement across the retail electricit… African solar installers feel the pinch of rising panel prices Max Hall 26 April 2021 pv-magazine.com With Chinese manufacturers having warned they will pass on escalating component costs, and shipping expenses soaring sin… Two firefighters killed and one missing after Beijing battery blaze Vincent Shaw 21 April 2021 pv-magazine.com An explosion occurred as firefighters were dealing with a fire in a 25 MWh lithium-iron phosphate battery associated with a 1. EU moves step nearer €11.5bn fund for coal-dependent regions Max Hall 27 April 2021 pv-magazine.com The European Parliament appears to have made the terms of the energy transition funding stream for public sector entitie… iAbout these recommendations Elsewhere on pv magazine… MIBEL alcanzó nuevamente los precios más bajos de Europa mientras subieron en el resto de mercados eléctricos pv magazine 23 March 2021 pv-magazine.es En la tercera semana de marzo los precios de la mayoría de mercados eléctricos europeos subieron, mientras que MIBEL mar… Tasmanian Labor installs solar at the top of its campaign promises Blake Matich 8 April 2021 pv-magazine-australia.com Tasmania (TAS) is going to the polls on May 1, and the opposition Labor Party has put forth a $20 million plan to fund l… India closing in on 7 GW of rooftop solar pv magazine 13 April 2021 pv-magazine-australia.com India’s cumulative installed capacity of rooftop solar stood at 6,792 MW as of December 31, 2020, with 1,352 MW having b… Spotlight on Australian solar Bella Peacock 21 April 2021 pv-magazine-australia.com Calculating the average sunlight hours data from the Bureau of Meteorology from January toDecember 2020, Darwin was cro… Q&A: EEW’s $500 million Gladstone solar to hydrogen project is just the start Blake Matich 18 March 2021 pv-magazine-australia.com pv magazine Australia: Australia is the testing ground for a lot of different aspects of the future green hydrogen market. Cracking the case for solid state batteries pv magazine 29 April 2021 pv-magazine-australia.com Scientists in the UK used the latest imaging techniques to visualize and understand the process of dendrite formation an… iAbout these recommendations Leave a Reply Cancel replyPlease be mindful of our community standards.Your email address will not be published. Required fields are marked *CommentName * Email * Website Save my name, email, and website in this browser for the next time I comment. By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.Further information on data privacy can be found in our Data Protection Policy.iAbout these recommendationsKeep up to date pv magazine Global offers daily updates of the latest photovoltaics news. We also offer comprehensive global coverage of the most important solar markets worldwide. Select one or more editions for targeted, up to date information delivered straight to your inbox.Email* Select Edition(s)*Hold Ctrl or Cmd to select multiple editions.Tap to select multiple editions.Global (English, daily)Germany (German, daily)U.S. (English, daily)Australia (English, daily)China (Chinese, weekly)India (English, daily)Latin America (Spanish, daily)Brazil (Portuguese, weekly)Mexico (Spanish, daily)Spain (Spanish, daily)France (French, daily)We send newsletters with the approximate frequency outlined for each edition above, with occasional additional notifications about events and webinars. We measure how often our emails are opened, and which links our readers click. To provide a secure and reliable service, we send our email with MailChimp, which means we store email addresses and analytical data on their servers. You can opt out of our newsletters at any time by clicking the unsubscribe link in the footer of every mail. For more information please see our Data Protection Policy. Subscribe to our global magazine SubscribeOur events and webinars Household solutions for maximizing self-consumption using smart contro… , pv-magazine.com Discussion participantsRobert van Keulen, Technical Manager, GrowattGautham Ram, Assistant Professor and Researcher, D… Out with the old… A guide to successful inverter replacement , pv-magazine.com Discussion participantsRoberto Arana-Gonzalez, Service Sales Manager EMEA, SungrowFranco Marino, Regional Service Mana… Insight @ Energy Storage North America 2020 11 November 2020 pv-magazine.com Developed and moderated by pv magazine, the panel sessions address a hot topic within the industry, from multiple angles. iAbout these recommendations pv magazine print Time to standardize pv magazine 7 April 2021 pv-magazine.com Not all quality control plans, processes and agreements are created equal, writes Frédéric Dross, the VP of strategic de… Polysilicon from Xinjiang: a balanced view pv magazine 7 April 2021 pv-magazine.com As of March, the United States and Europe were considering sanctions on polysilicon from Xinjiang, China, due to concerns over forced labor. Final thought: Solar ethics, forced labor pv magazine 7 April 2021 pv-magazine.com Abigail Ross Hopper, President and CEO, Solar Energy Industries Association (SEIA)Issue 04 – 2021 April 7, 2021 pv maga… ESG criteria: Should developers take notice? Michael Fuhs 7 April 2021 pv-magazine.com Something is brewing in the financial world. “Sustainable finance” and the growth of ESG funds have been taking the mark… Australia’s next wave of large-scale solar development pv magazine 7 April 2021 pv-magazine.com Call it “latent energy” – Australia’s renewable resources are expected to help some of the world’s greatest polluters to… Flexible tools for the next generation Jonathan Gifford 7 April 2021 pv-magazine.com A solar manufacturing investment cycle appears to be underway in Europe, with equipment suppliers reporting surging leve… iAbout these recommendationslast_img

Leave a Reply

Your email address will not be published. Required fields are marked *