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JinkoSolar (JKS) Homeland Security Search Case
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- In May 2023, a newspaper reported the FBI-assisted execution of a DHS search warrant at the JinkoSolar site.
- On it, $JKS fell 8.3%, losing $201.6M+ of shareholder value.
- Investors may have grounds to suspect that JinkoSolar hid legal problems with federal agencies.
On May 9, 2023, The Jacksonville Daily Record reported that law enforcement agency vehicles had been seen at the JinkoSolar manufacturing plant the previous day and that according to the FBI, federal agents were assisting the DHS with the execution of a search warrant.
On this news, $JKS fell 8.3% and lost over $201.6 million of its market capitalization, seriously damaging shareholders.
Considering all the information, investors might have grounds to suspect that JinkoSolar failed to timely disclose the Company’s federal legal problems, which consequently led to their losses.
The case is already under investigation by at least one of the reputable law firms.
Failure to Disclose,
Shock Event Date
09 May 2023