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Investigation announced for Investors in ReneSola Ltd (NYSE: SOL) over potential Wrongdoing

01-29-2022 05:00 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of investors in ReneSola Ltd (NYSE: SOL) shares over potential wrongdoing at ReneSola Ltd was announced

An investigation on behalf of investors in ReneSola Ltd (NYSE: SOL) shares over potential wrongdoing at ReneSola Ltd was announced

An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at ReneSola Ltd.

Investors who purchased shares of ReneSola Ltd (NYSE: SOL) and currently hold any of those NYSE: SOL shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain ReneSola Ltd directors breached their fiduciary duties and caused damage to the company and its shareholders.

Stamford, CT based ReneSola Ltd, through its subsidiaries, develops, builds, operates, and sells solar power projects in the United States and Europe. ReneSola Ltd reported that its annual Total Revenue declined from $119.11 million in 2019 to $73.5 million in 2020, and that its Net Loss of $8.83 million in 2019 turned to a Net IIncome of $2.77 million in 2020.

On December 2, 2021, Grizzly Research issued a research report on ReneSola Ltd titled "We believe ReneSola is a Fraudulent Company; Most Projects Never Existed." Grizzly alleged, among other things, "Our on the ground due diligence, filings review, and communications with local municipalities in Europe indicate that SOL has been vastly misrepresenting its project development pipeline.

Shares of ReneSola Ltd (NYSE: SOL) declined from $9.72 per share in early November 2021, to as low as $4.86 per share on January 24, 2022.

Those who purchased shares of ReneSola Ltd (NYSE: SOL) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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