Thursday 26 February 2009

Claims of collusion

Adelaide Advertiser
Saturday 21/2/2009 Page: 24

A SOUTH Australian solar energy company is ensnared in a bitter United States lawsuit driven by claims of misleading financial disclosures, falling share prices and insider trading. Adelaide chief executive Greg Watson is angry that his company Green and Gold Energy has been dragged into a class action between New Mexico solar cell maker Emcore and its furious shareholders. Documents filed in the New Mexico District Court claim Emcore misrepresented the size of an order placed with them by Green and Gold. The documents imply the company colluded with Emcore. Mr Watson denied any wrongdoing.

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