BENSALEM, Pa. -- (Business Wire)

Law Offices of Howard G. Smith announces that a class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of a class (the “Class”) comprising purchasers of American Depository Shares (“ADSs”) of Yingli Green Energy Holding Company Limited (“Yingli” or the “Company”) (NYSE:YGE) between March 18, 2014 and May 15, 2015, inclusive (the “Class Period”).

Yingli, together with its subsidiaries, designs, develops, manufactures, markets, sells, and installs photovoltaic, or solar energy, products in the People’s Republic of China. The Company is purportedly the world’s largest producer of solar energy products by volume of products sold. The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose to investors: (1) that the Company was inappropriately recognizing revenue; (2) that the Company had no reasonable prospects to collect on certain accounts receivable based on historical customer conduct; (3) that the Company was no longer able to borrow from commercial banks to fund its operations; (4) that the Company’s inability to raise additional capital or borrow funds from commercial banks threatened the Company’s ability to continue as a going concern; and, (5) that, as a result of the foregoing, Defendants’ statements about Yingli’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis.

On May 15, 2015, the Company filed its Annual Report with the SEC. Within its Annual Report, the Company disclosed there is “substantial doubt” that Yingli can remain solvent, stating, “[o]ur substantial indebtedness and net loss may adversely affect our business, financial condition and results of operations, as well as our ability to meet our payment obligations.” On this news, shares of Yingli declined $0.21 per share, over 12%, to close on May 18, 2015, at $1.49 per share, on unusually heavy volume.

If you are a member of the Class described above, you may move the Court no later than 60 days from the date of this Notice to serve as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: http://www.businesswire.com/news/home/20150528006737/en/

Contacts:

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
(215) 638-4847
(888) 638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com

Source: Law Offices of Howard G. Smith