Siskinds LLP Announces that a Settlement Has Been Reached in the Class Action Against Canadian Solar

TORONTO, Aug. 19, 2020 /CNW/ --

Canadian Solar Securities Class Action

Notice of Settlement Approval Hearing

Court File No. C-710-10

www.CanadianSolarSettlement.ca

THIS NOTICE MAY AFFECT YOUR RIGHTS. PLEASE READ CAREFULLY.

Did you hold or purchase shares of Canadian Solar Inc. (Canadian Solar) between May 26, 2009 to and
including June 1, 2010?

A settlement has been reached in the class action against Canadian Solar and certain of its current and former officers and directors alleging misrepresentations made in certain of Canadian Solar's oral statements and public disclosures released between May 26, 2009 and June 1, 2010.

The Settlement provides for the payment by the Defendants of the total amount of $13,000,000.00 USD to resolve those claims (the "Settlement").

The Settlement is a compromise of disputed claims and is not an admission of liability or wrongdoing by Canadian Solar or any of the other Defendants.

The Settlement must be approved by the Ontario Superior Court of Justice. A Settlement approval hearing has been set for October 30, 2020 in Kitchener, Ontario. The Settlement approval hearing will be heard by video-conference. At or immediately after the hearing, the Court will also address a motion to approve Class Counsel's fees, which will not exceed 25% of the recovery plus reimbursement for expenses incurred in the litigation.

Class Members who wish to comment on, or make an objection to, the approval of the Settlement Agreement, Distribution Protocol, or Class Counsel Fees requested may deliver a written submission to Class Counsel, at the address listed below, no later than October 16, 2020. Any objections delivered by that date will be filed with the Court.

Siskinds LLP
Canadian Solar Securities Class Action Settlement
Attention: Daniel E.H. Bach, Stefani Cuberovic or Alex Dimson
302–100 Lombard Street
Toronto ON M5C 1M3
Email: [email protected]
Telephone: [phone]
Fax: [phone]
https://www.siskinds.com/class-action/canadian-solar-inc/

For more information about your rights and how to exercise them, see the Long-Form Notice available online at www.CanadianSolarSettlement.ca or contact the Administrator at:

Canadian Solar Securities Class Action Settlement Administrator
c/o Epiq Class Action Services Canada Inc.
P.O. Box 507 STN B
Ottawa ON K1P 5P6
Email: [email protected]
Telephone: [phone]
Fax: [phone]
www.CanadianSolarSettlement.ca

SOURCE Siskinds, LLP