SOURCE: Brower Piven, A Professional Corporation

August 04, 2008 15:08 ET

Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in GT Solar International, Inc. to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit Before the September 30, 2008 Lead Plaintiff Deadline

BALTIMORE, MD--(Marketwire - August 4, 2008) - Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the District of New Hampshire on behalf of purchasers of the common stock of GT Solar International, Inc. ("GT Solar" or the "Company") (NASDAQ: SOLR) pursuant to the Company's initial public offering ("IPO") on July 23, 2008 or before the July 25, 2008 announcement by GT Solar customer, LDK Solar Co. Ltd., that it had signed a contract with a competitor of GT Solar (the "Class Period").

No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than September 30, 2008 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You may contact Brower Piven (through or 410/332-0030) to answer any questions you may have in that regard.

The complaint charges GT Solar, certain of its officers and directors and the Company's underwriters with violations of the Securities Act of 1933. In particular, the complaint alleges that GT Solar failed to disclose the extent of risk surrounding its business relationship with one of its customers, LDK Solar Co., Ltd. On July 25, 2008, within days of the IPO, LDK announced that it had signed a contract with a competitor of GT Solar. On this news GT Solar's shares declined to a low of $9.30, closing at $12.59 per share on July 25, 2008.

If you have suffered a net loss for all transactions in GT Solar International, Inc. common stock during the Class Period, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at, by email at, by calling 410-332-0030, or at Brower Piven, A Professional Corporation, The World Trade Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore, Maryland 21202. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 40 years. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need not take any action at this time to be a member of the class.

Contact Information

    Charles J. Piven
    Brower Piven, A Professional Corporation
    Baltimore, Maryland
    Email Contact