Solyndra files anti-trust lawsuit against Suntech for "illegal cartel"12. October 2012 | Global PV markets, Industry & Suppliers, Markets & Trends | By: Becky Beetz
The bankrupt Solyndra filed an anti-trust lawsuit against Suntech Power Holdings Company Ltd and other Chinese companies on October 11 in San Francisco, the U.S., accusing them of, among other issues, "running an illegal cartel".
The filing appears on the United States District Court website, under newly filed cases. Bloomberg further reports that Solyndra is seeking compensation for the US$1.5 billion loss of its business value.
The news source writes that Solyndra is accusing Suntech, and others, of running an illegal cartel, under which they flooded the U.S. solar market with below cost photovoltaic modules.
Furthermore, "Suntech, Trina Solar Ltd. (TSL) and Yingli Green Energy Holding Co. (YGE) raised money from American investors by selling depositary shares to destroy American competitors such as Solyndra, according to the complaint," says Bloomberg.
Alongside Suntech, Trina and Yingli, an unidentified energy trade association, the Chinese energy administration, domestic banks and polysilicon manufacturers have reportedly been named as accomplices.
On October 10, the U.S. Department of Commerce ruled that anti-dumping and countervailing duties should be applied to Chinese imports of photovoltaic modules and cells into the U.S.
Meanwhile, Solyndra, which received a $535 million U.S. Department of Energy loan guarantee, was forced to file for insolvency last year. Since then, the company has been embroiled in a dichotomous political debate in the U.S. Currently, the Republicans are pushing to introduce a "No More Solyndras" act into law.
Suntech did not immediately respond to pv magazine's request for comment.
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