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Bankrupt Solyndra seeks $1.5 billion in damages from Chinese peers

Tuesday, October 16, 2012

solyndra

Bankrupt solar firm Solyndra has filed a lawsuit against three U.S.-listed Chinese solar players, including Suntech Power Holdings Co , seeking $1.5 billion in compensation due to monopolization by these firms, according to court documents filed on Thursday.

The lawsuit was filed against Suntech, Trina Solar Ltd and Yingli Green Energy Holding Co claiming that the trio’s panel prices moved in tandem – falling 75 percent in four years in the U.S.

Solyndra, which claims in the lawsuit that the trio were involved in predatory pricing and price fixing, filed for bankruptcy a year ago as it could no longer compete with plunging prices of solar panels imported from China.

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