I-TEAM: JinkoSolar responds to federal investigation into the company

JACKSONVILLE, Fla. – The China-based solar panel company, JinkoSolar, sent a response to the News4JAX I-TEAM about a federal search warrant executed at its Jacksonville plant.

News4JAX learned that another JinkoSolar sales office was searched in San Francisco, simultaneously as investigators arrived at Jacksonville’s location on the Westside earlier this week.

The company sent the I-TEAM this statement:

“JinkoSolar is committed to operating in accordance with the highest ethical standards and adhering to the laws and regulations of the countries where it operates, including the United States. Jinko, through external counsel, is engaging constructively with relevant agencies to understand the nature of the inquiry, and the company’s business operations are running normally, including in Jacksonville.”

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The federal search warrant impacted JinkoSolar stocks. The stock price fell to $3.91 per share, or 8.25% the same day federal investigators searched both locations.

Law firms like Bronstein, Gewirtzx and Grossman, which operate in New York and California, are asking JinkoSolar shareholders for any information they may have related to the investigation or the purchase of JinkoSolar shares.

The law firms say they represent investors in security fraud class action and shareholders derivative suits.

News4JAX can confirm federal investigators did remove several boxes containing unidentified paperwork and information related to the federal search warrant. It’s still unclear if JinkoSolar violated any federal laws.

Jinko’s Jacksonville plant is open for business while the investigation continues.

About the Author:

Tarik anchors the 4, 5:30 and 6:30 p.m. weekday newscasts and reports with the I-TEAM.