Suntech Power in Legal Spat With Q-Cells
Suntech Power revealed the difference of opinion -- over 14.7 million euros -- in a Securities and Exchange Commission filing made after the market close on Wednesday.
Suntech Power stated in its filing that at the beginning of September, Q Cells filed a lawsuit in Berlin against Suntech Power claiming alleged breach of a solar cell supply contract through 2008. Suntech Power stated that the contract was first entered into in June 2005.
The news of a lawsuit involving Q Cells was far from the biggest news in solar out of Germany on Wednesday. Earlier in the day, German solar inverter giant SMA Solar put a scare into the solar markets with an extremely cautious outlook about solar demand in 2011.
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