Wolf Popper LLP Files a Securities Class Action Against GT Solar International, Inc.

NEW YORK, Aug. 13  /PRNewswire/ -- Wolf Popper LLP has filed a class action lawsuit against GT Solar International, Inc. ("GT Solar"; Nasdaq: SOLR) and certain other defendants in the United States District Court for the District of New Hampshire on behalf of investors who purchased GT Solar common stock in its initial public offering or on the open market on July 24, 2008.  The case has been assigned Civil Action No. 08 Civ. 00324.  The complaint is available on Wolf Popper's website (http://www.wolfpopper.com/).

GT Solar had an initial public offering on or about July 23, 2008, selling 30.3 million shares of common stock at $16.50 each (the "IPO").  The Registration Statement pursuant to which the IPO was conducted contained allegedly misleading statements and omitted material facts concerning sales of and demand for DSS furnaces, GT Solar's most important product.  This included statements about sales to GT Solar's largest customer, LDK Solar Co., Ltd. ("LDK"), which represented 62% of the company's revenue in the fiscal year ended on March 31, 2008.

One day after GT Solar's IPO -- at 3:15 a.m. on July 25, 2008 -- LDK announced that it had "signed a contract" to purchase DSS furnaces from JYT Corporation through 2010.  This caused shares of GT Solar to close at $12.49 per share, 24% below the IPO price, on July 25, 2008.

The complaint alleges, in light of LDK's announcement, that the IPO documents failed to disclose that (1) GT Solar was losing significant business from its largest customer (LDK); (2) that LDK would begin purchasing DSS furnaces from one of GT Solar's greatest competitors, JYT Corporation; and, (3) GT Solar had already experienced a significant decline in orders received from LDK, as manifested by the company's admission that the proportion of its current order backlog attributable to LDK was only 20%.

Investors in GT Solar have until September 30, 2008 to file a motion with the District Court to seek appointment as lead plaintiff.

Wolf Popper LLP has extensive experience representing shareholders in class actions and has successfully recovered billions of dollars for defrauded investors and shareholders.

For more information or to pursue your appointment as lead plaintiff, please contact:

  Wolf Popper LLP - 877.370.7703 (toll free) (email: )
  James A. Harrod, Esq. - 212.451.9642 (email: )
  Anthony Green, Esq. - 212.451.9621 (email: )
  845 Third Avenue
  New York, NY 10022
  Fax: [phone] or 877.370.7704 (toll free)
  website: http://www.wolfpopper.com/

  Attorney Advertising -- Prior results do not guarantee a similar outcome


DATASOURCE: Wolf Popper LLP



CONTACT:  Wolf Popper LLP, 877-370-7703, , or James

A. Harrod, Esq., [phone], , or Anthony Green,

Esq., [phone], , Fax: [phone] or

877-370-7704 (toll free), both of Wolf Popper LLP



Web site:  http://www.wolfpopper.com/ 

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