IF YOU PURCHASED STOCK IN GT SOLAR INTERNATIONAL, INC. THROUGH ITS INITIAL PUBLIC OFFERING ON JULY 24, 2008, OR IN THE STOCK MARKET ON JULY 24, 2008, WE WOULD LIKE TO SPEAK TO YOU ABOUT CLAIMS YOU MAY HAVE UNDER THE FEDERAL SECURITIES LAWS TO RECOVER LOSSES YOU HAVE SUSTAINED FROM YOUR PURCHASE OF GT SOLAR STOCK.

Shapiro Haber & Urmy LLP is a Boston based law firm that specializes in securities and other class actions.  On August 5, 2008 we filed a class action in the United States District Court for the District of New Hampshire on behalf of purchasers of GT Solar International, Inc. (“GT Solar” or the “Company”) (NASDAQ:SOLR) common stock on July 24, 2008 pursuant to, or traceable to, the Company’s false and misleading Registration Statement issued in connection with the Company’s Initial Public Offering (“IPO”).  The action is entitled Dykes v. GT Solar, et al., No. 08-cv-00318.  Persons who bought GT Solar stock in the IPO or who purchased shares in the market on July 24, 2008 are included in the proposed Class. 

The complaint alleges that the Registration Statement failed to disclose that GT Solar’s largest customer, LDK Solar Co., Ltd. (“LDK Solar” or “LDK”) which accounted for 62% of the Company’s revenue during the fiscal year ended March 31, 2008, had ceased ordering GT Solar’s principal product, DSS Furnaces, from GT Solar and that LDK had decided to purchase furnaces from a competitor of GT Solar.  On July 25, 2008, one day after the IPO, LDK announced that it had entered into a three-year contract to purchase furnaces from JYT Corporation.

As a result, GT Solar stock, which was sold in the IPO for $16.50 per share, sold as low as $9.30 per share, and closed at $12.59 per share, on July 25, 2008, a drop of 23% from the IPO price one day earlier.  Plaintiff seeks to recover damages on behalf of all persons or entities who acquired the common stock of GT Solar on July 24, 2008 pursuant to, or traceable to, the Registration Statement issued in connection with the Company’s IPO.

If you purchased GT Solar stock on July 24, 2008, in the IPO or in the market, we would welcome the opportunity to speak with you.  Please click here or call 617-439-3939 to contact attorneys Edward Haber or Michelle Blauner.

To view a copy of our complaint against GT Solar as filed with the U.S. District Court for the District of New Hampshire, please click here.