A lawsuit was filed for certain investors in shares of Suntech Power Holdings Co., Ltd. (ADR) (NYSE:STP) shares over alleged securities laws violations by Suntech Power Holdings Co., Ltd. Deadline: October 1, 2012. NYSE:STP investors should contact the Shareholders Foundation.

San Diego, CA -- (SBWire) -- 08/06/2012 --An investor in shares of Suntech Power Holdings Co., Ltd. (ADR) (NYSE:STP) filed a lawsuit in the U.S. District Court for the Central District of California against Suntech Power Holdings Co., Ltd. over alleged violations of Federal securities laws in connection with certain financial statements.

Investors who purchased shares of Suntech Power Holdings Co., Ltd. (ADR) (NYSE:STP) between August 18, 2010 and July 30, 2012, have certain options and there are strict and short deadlines running. Deadline: October 1, 2012. NYSE:STP investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on behalf of investors who purchased the securities of Suntech Power Holdings Co., Ltd. (ADR) (NYSE:STP) between August 18, 2010 and July 30, 2012, that Suntech Power Holdings Co., Ltd. and its present and former officers and directors violated the Securities Exchange Act of 1934 by issuing allegedly false and misleading information to investors about the Company's financial and business condition. Specifically, so the lawsuit, defendants allegedly misrepresented and/or failed to disclose that over 560 million (EURO) of German government bonds pledged to Suntech Power Holdings Co., Ltd. in connection with a loan guarantee Suntech Power Holdings Co., Ltd. made for a related entity, did not exist.

Then on , July 30, 2012, Suntech Power Holdings Co., Ltd. (NYSE: STP) announced that it is conducting an investigation into a security interest Suntech Power Holdings Co., Ltd received in connection with its investment in Global Solar Fund, S.C.A., Sicar ("GSF"). Based on recent review and inquiries, Suntech Power Holdings Co., Ltd suspects that the collateral related to the security interest may not have existed and the Company may have been a victim of fraud.

In May 2010, Suntech Power Holdings Co., Ltd guaranteed payment obligations related to finance facilities provided to an investee company of Global Solar Fund, S.C.A., Sicar in the amount of approximately EUR554.2 million. As security for the Company's obligations under the guarantee, Suntech Power Holdings Co., Ltd received a pledge of German government bonds in the amount of EUR560.0 million from GSF Capital Pte Ltd., a third-party investor of Global Solar Fund, S.C.A., Sicar.

Suntech Power Holdings Co., Ltd said that as part of its initiative to monetize its investment in Global Solar Fund, S.C.A., Sicar, the Company engaged outside counsel to review and assist the process and as a result of these efforts, the Company's outside counsel recently noted certain facts and circumstances suggesting that the Bonds may not have existed and Suntech may have been a victim of fraud.

Shares of Suntech Power Holdings Co., Ltd. (ADR) (NYSE:STP) fell from $1.61 on Friday, July 27, 2012, to as low as $0.91 per share on August 2, 2012.

Those who purchased shares of Suntech Power Holdings Co., Ltd. (ADR) (NYSE:STP) between August 18, 2010 and July 30, 2012, have certain options and there are strict and short deadlines running. Deadline: October 1, 2012. NYSE:STP investors should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Joelle Day
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com