Judge Rejects Derivative Plaintiffs’ Motion To Lift Stay In Related Class Action

Mealey's (October 4, 2016, 11:25 AM EDT) -- PHOENIX — Lifting a stay and unsealing documents in a securities class action lawsuit against a solar energy panel manufacturer and certain officers and directors is not proper because the parties seeking to intervene, lift the stay and unseal the documents — investors in a related shareholder derivative lawsuit — would be permitted to “conduct discovery in aid of their demand futility argument,” which has been denied twice in that action, a federal judge in Arizona ruled Sept. 30 (Mark Smilovits, et al. v. First Solar...
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