According to foreign media reports, First Solar is currently facing a federal securities class action lawsuit-the company misled investors in response to changes in U.S. tariff policy and global manufacturing restrictions, suspected of violating federal securities laws. Pomerantz LLP, a law firm specializing in
securities class actions, filed a lawsuit in the United States Federal Court for the Eastern District of New York, representing a class of investors who purchased First Solar securities between February 26, 2025 and February 24, 2026. According to the
complaint, the company was accused of exaggerating its ability to cope with the impact of U.S. tariff policies on business operations and finance, while underestimating the adverse impact of relevant measures on fiscal year 2026 performance, including the decline in capacity utilization in Southeast Asia and the cost pressures brought about by the transfer of production to the United States.
Specifically, in April 2025, the Trump Administration implemented "reciprocal tariffs", in which imports from Malaysia and Vietnam were initially subject to tariffs of 24% and 46%, respectively, and then reduced to 10%.
As a result, First Solar's Southeast Asian plants have been hit, with capacity utilization at the company's Southeast Asian plants said to have fallen to about 20% at one point .
The lawsuit alleges that First Solar instead assured investors that module prices in its core U.S. market remained stable, while underestimating the severe financial losses caused by underutilized capacity in Southeast Asian factories.
Not only that, but the complaint notes that the company also tried to shift its production focus to the South Carolina plant in the United States, but downplays the complexity involved.
Due to tariff changes and supply chain restructuring in the United States, First Solar announced in November 2025 that it would invest $330 million to build a new plant in South Carolina, USA, and plan to put it into commercial operation in the second half of 2026.
In summary, the company's public statements and financial projections are alleged to be materially misleading. First Solar has not yet made a formal response to
the above case.
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