First Solar Faces Class Action Over Alleged Misleading Guidance

The lawsuit, filed by SueWallSt, contends that First Solar management maintained a facade of market dominance even as internal conditions deteriorated. Despite repeated claims that trade policies were strengthening the company's position, the reality included significant underutilization of manufacturing facilities in Malaysia and Vietnam. Furthermore, a major contract default by British Petroleum affiliates—involving 6.6 gigawatts of bookings—undermined the company's claims of being oversold through 2026.

Financial performance suffered as these issues came to light. On February 25, 2026, First Solar shares plunged 13.61%, or $33.09 per share, following disappointing fiscal year results and downgraded revenue guidance. This collapse followed an earlier decline in January 2026. The complaint highlights that the company's shift toward a new South Carolina production facility added $330 million in costs without providing the expected revenue cushion. Investors seeking to recover damages may contact attorney Joseph E. Levi ahead of the August 24 filing deadline to determine their eligibility for the class action.