Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against First Solar, Inc. (FSLR)

NEW YORK, June 24, 2026 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Eastern District of New York on behalf of all persons or entities who purchased or otherwise acquired First Solar, Inc. (“First Solar” or the “Company”) (NASDAQ: FSLR) securities between February 26, 2025 and February 24, 2026, inclusive (the “Class Period”).

The Complaint alleges that Defendants failed to disclose to investors that: (i) Defendants had overstated First Solar’s capacity to manage the impact of U.S. tariff policy on the Company’s business; (ii) Defendants understated the extent to which its responses to U.S. tariff policy, including the intentional underutilization of production facilities in Malaysia and Vietnam, and attempted relocation of production to the U.S., were likely to negatively impact First Solar’s projected performance in the 2026 fiscal year; and (iii) as a result, Defendants’ public statements were materially false and misleading at all relevant times.

The Complaint alleges that the truth began to emerge on January 7, 2026, when Jefferies downgraded First Solar to Hold from Buy, noting that during 2025, the Company had lowered guidance, faced significant de-bookings and experienced margin compression through 2025. The Complaint continues to allege that Jefferies also flagged that “[international] facilities remain a pain point while tariffs exist” and “underutilization at [international] facilities remains a concern.” The Complaint alleges that the Jefferies analyst also predicted that First Solar’s deployment opportunities were likely to be more limited in 2026.

The Complaint alleges that on this news, First Solar’s stock price fell $27.67 per share, or 10.29%, to close at $241.11 per share on January 7, 2026.

Investors who purchased or otherwise acquired shares of First Solar should contact the Firm prior to the August 24, 2026 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.

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