Knox v. Yingli Green Energy Holding Co.

ORDER CONSOLIDATING ACTIONS, APPOINTING LEAD PLAINTIFFS, AND APPOINTING CLASS COUNSEL [9,16,17]

I. INTRODUCTION

This is a putative class action for securities fraud under Sections 10(b) and 20(a) of the Securities Exchange Act. Pending before the Court are multiple Motions to Consolidate and competing. Motions for Appointment of Lead Plaintiff and Class Counsel. For the reasons discussed below, the Court GRANTS the Motions to Consolidate, GRANTS Movants Noe and Salvador Barocio’s Motion for Appointment of Lead Plaintiff and Class Counsel, and DENIES all other Motions for Appointment of Lead Plaintiff and Class Counsel. 1 (ECF Nos. 9, 16, 17.)

II. FACTUAL BACKGROUND

Defendant Yingli Green Energy Holding Company Limited (‘Yingli”) is a publicly-tráded company that manufactures and sells solar energy products in the People’s Republic of China. (Conipl. ¶¶ 2,18.) Between March 18, 2014 and March 2015, Yingli’ issued five financial reports that allegedly contained false and misleading statements and omitted material information,- including: (1) that'Yingli was inappropriately recognizing revenue, (2) that Yingli had no reasonable prospects of collecting on certain accounts…