First Solar Investors Face August 24 Deadline in Securities Class Action

The lawsuit, filed in the United States District Court for the Eastern District of New York, contends that First Solar management obscured the financial impact of curtailed output at its Malaysia and Vietnam facilities. While the company initially framed these production slowdowns as temporary responses to tariff uncertainty, the complaint alleges these issues persisted, eventually dragging down the company’s forward-looking guidance. Investors were reportedly kept in the dark as British Petroleum affiliates defaulted on 6.6 gigawatts of bookings, further destabilizing the firm’s international demand.

Financial strain was reportedly compounded by the company’s ambitious move to onshore operations to South Carolina. The complaint states that the $330 million relocation program—involving $260 million in capital expenditures and $70 million in non-capitalized costs—was presented as a margin-improving strategy. However, the litigation argues that leadership failed to disclose the extent to which these onshoring efforts, combined with idle international capacity, would compress near-term financial results. The stock price fell 13.61%, or $33.09 per share, on February 25, 2026, following the disclosure of disappointing Q4 results and weakened fiscal year 2026 revenue guidance. Joseph E. Levi, the attorney representing the plaintiffs, stated that the case questions whether investors received accurate information regarding the operational risks of simultaneously idling international production while launching a major domestic facility.