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Abraham, Fruchter & Twersky, LLP Announces That It Has Been Retained to File a Class Action With Respect to the Recent IPO of GT Solar International, Inc.

SOURCE:

Abraham, Fruchter & Twersky, LLP

2008-08-04 13:31:00

Abraham, Fruchter & Twersky, LLP Announces That It Has Been Retained to File a Class Action With Respect to the Recent IPO of GT Solar International, Inc.

Abraham, Fruchter & Twersky, LLP Announces That It Has Been Retained to File a Class Action With Respect to the Recent IPO of GT Solar International, Inc.

NEW YORK, NY–(EMWNews – August 4, 2008) – Abraham, Fruchter & Twersky, LLP (“AF&T”) has

been retained to file a class action law suit arising out of the initial

public offering (“IPO” or the “Offering”) of GT Solar International, Inc.

(“GT Solar” or the “Company”) (NASDAQ: SOLR).

GT Solar completed its IPO of 30,300,000 shares at $16.50 per share on July

24, 2008. LDK Solar Co., Ltd. (“LDK”), GT Solar’s largest customer, then

announced that it would be purchasing equipment from one of GT Solar’s

competitors rather than from the Company. GT Solar’s stock tumbled by more

than 20% from the IPO price.

The proceeds of the Offering, or more than $450 million, went to its

controlling shareholder, GT Solar Holdings LLC. The complaint AF&T has

prepared for its client asserts claims against, among others, GT Solar

Holdings LLC with respect to the proceeds it received from the IPO.

A lead plaintiff has not yet been appointed with respect to the class

action arising out of GT Solar’s IPO. If you wish to serve as lead

plaintiff, you must move the Court by September 30, 2008. To serve as lead

plaintiff, you must meet certain requirements set forth in the applicable

law and file appropriate papers with the Court. You do not need to seek

appointment as a lead plaintiff in order to share in any recovery. You may

retain Abraham Fruchter & Twersky LLP, or other counsel of your choice, to

serve as your counsel in this action or you may choose to do nothing and

remain an absent class member.

If you wish to discuss this action, participate in this lawsuit, or have

any questions or concerns regarding this notice, or preservation of your

rights, please contact:

Jeffrey S. Abraham
Philip T. Taylor
Abraham, Fruchter & Twersky, LLP
One Penn Plaza, Suite 2805
New York, N.Y. 10119
Telephone: (212) 279-5050
e-mail:

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