In a statement, CEO David King said the company is "exploring strategic alternatives with lenders and potential investors." As a result of the default, Suntech noteholders will be able to sue the company in the U.S., where some have threatened to do so.
The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move.
-- Written by Brittany Umar.