Glancy Binkow & Goldberg LLP, Representing Shareholders Of Canadian Solar, Inc., Announces An August 2, 2010, Deadline To Move For Appointment As Lead Plaintiff In The Shareholder Lawsuit -- CSIQ

On June 1, 2010, after the market closed, the Company disclosed that it was postponing the release of its full financial results for the first quarter ended March 31, 2010, as a result of the commencement of an investigation by the Audit Committee of the Company's Board of Directors.  The Company further disclosed that the investigation was launched after the Company received a subpoena from the United States Securities and Exchange Commission requesting documents from the Company relating to, among other things, certain sales transactions in 2009.  According to Canadian Solar, the Audit Committee retained outside counsel and independent forensic accountants to assist in reviewing, among other things, the transactions described in the subpoena.  The Company also disclosed that it may revise its net revenues numbers for the 2009 fiscal fourth quarter due to the company's intention to recognize sales only after receiving full cash payments from certain customers and due to certain subsequent return of goods after the quarter end.

The next day, as a result of this news, shares of Canadian Solar declined $1.69 per share, or 14.25%, to close on June 2, 2010, at $10.17 per share, on unusually heavy volume.

The Private Securities Litigation Reform Act of 1995 ("PSLRA") requires the Court to appoint a "Lead Plaintiff" in this case. Any person or group who suffered a loss as a result of purchasing Canadian Solar securities between May 26, 2009, and June 1, 2010, may ask the Court to be appointed as Lead Plaintiff, but must file a motion no later than the August 2, 2010 deadline.

Glancy Binkow & Goldberg LLP is a law firm with significant experience in prosecuting class actions, substantial expertise in actions involving corporate fraud, and is representing Canadian Solar shareholders in this litigation.

If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1801 Avenue of the Stars, Suite 311, Los Angeles, California 90067, by telephone at (310) 201‑9150, Toll Free at (888) 773‑9224, by e‑mail to [e-mail], or visit our website at http://www.glancylaw.com.    

CONTACT:  Glancy Binkow & Goldberg LLP, Los Angeles, CA
          Lionel Z. Glancy
          Michael Goldberg
          [phone]
          [phone]
          [e-mail]
          www.glancylaw.com.

>To order reprints of this article, click here: Reprints