View Full Version : Solyndra sues Chineses solar manufacturers

13 October 2012, 1441
According to an article in the business section of my newspaper, written by Karen Guilo, Bloomberg News, Solyndra has accused Suntech Power and other Chinese solar panel manufacturers for driving it out of business by running an illegal cartel. Solyndra is seeking compensation "for the loss of the $1.5 billion value of its business and more, which defendants destroyed", according to a complaint filed yesterday in federal court in San Francisco.

The complaint alleges that the defendants schemed with each other, raw material suppliers and certain lenders to flood the U.S. market with solar panels at below-cost prices. Solyndra says that panels prices for Wuxi, China-based Suntech and two other companies moved in tandem, falling 75% in four years in the U.S. market. Suntech responded that the allegations are "baseless" and that Suntech will fight the suit in court. The article notes that the Commerce Department on May 17 announced preliminary duties on Chinese-made solar panels ranging from 31% to 250%.

The complaint claims that the Chinese manufacturers met regularly at trade group forums to coordinate their pricing and agreed to flood the U.S. market rather than sell in China. Solyndra also names an energy trade association, China's energy administration, Chinese banks and Chinese polysilicon manufacturers as co-conspirators in the lawsuit. The complaint seeks a judgment declaring the Chinese companies' conduct was an illegal conspiracy to fix prices and create a monopoly, resulting in damages to Solyndra of at least $1.5 billion.