Suntech faces US class actions over alleged $687m bond fraud

China-based solar panel manufacturer Suntech is being sued by two US investor groups that allege the company failed to disclose a €560m ($687m) bond pledge.

Analysts warn the company could well be forced to de-list from the New York Stock Exchange (NYSE) and may even go to the wall without further generous government support.

The company is investigating whether it has become the victim of fraud over German government bonds that were pledged as security in connection with an investment in Global Solar Fund (GSF).

Suntech discovered the fraud as it attempted to sell its 80% holding in GSF, which it acquired in 2008.

New York-based law firms The Rosen Law Firm and Glancy Binkow & Goldberg…

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