Important Information Regarding Section 20(a) Individual Liability Claims Against First Solar's CEO and CFO for Alleged Tariff and Production Misrepresentations That Cost Shareholders Over $60 Per Share

NEW YORK, July 15, 2026 /PRNewswire/ -- Two senior executives of First Solar, Inc. (NASDAQ: FSLR) are named as individual defendants in a securities class action alleging they personally directed and controlled materially misleading statements about the Company's ability to manage U.S. tariff impacts and international production challenges. Check if you can recover your investment losses or contact Joseph E. Levi, Esq. at jlevi@levikorsinsky.com or (212) 363-7500.

First Solar shares declined a combined $60.76 per share across two corrective disclosures, closing at $210.12 on February 25, 2026, after the Company issued lower-than-expected FY 2026 revenue guidance. The Court has set August 24, 2026 as the deadline to apply for lead plaintiff appointment.

The Named Individual Defendants

The action names CEO Mark R. Widmar and CFO Alexander R. Bradley as control person defendants under Section 20(a) of the Securities Exchange Act of 1934. Both executives served in their respective roles throughout the entire Class Period, from February 26, 2025 through February 24, 2026. The complaint asserts that each possessed the authority to control the content of SEC filings, press releases, and earnings call statements disseminated to the investing public.

Sarbanes-Oxley Certification Obligations

As CEO and CFO, Widmar and Bradley were required under Sections 302 and 906 of the Sarbanes-Oxley Act to personally certify that the Company's periodic filings with the SEC:

• Did not contain untrue statements of material fact or omit material facts necessary to make statements not misleading
• Fairly presented the Company's financial condition and results of operations
• Disclosed any significant changes in internal controls
• Reported any fraud involving management or employees with significant roles in internal controls

The lawsuit contends that these certifications were materially false given the executives' alleged knowledge that international facility underutilization would persist into FY 2026 and that the onshoring of production to a new South Carolina facility would impose substantial costs on projected performance.

Section 20(a) Control Person Framework

The complaint charges that Widmar and Bradley functioned as controlling persons of First Solar by virtue of their senior positions, their direct participation in managing day-to-day operations, their authority over public communications, and their access to material non-public information. As pleaded in the action:

• Widmar personally delivered prepared remarks at four consecutive earnings calls characterizing the tariff environment as "long term favorable" for First Solar
• Bradley personally introduced revised financial guidance at each quarterly call, setting assumptions around international facility utilization rates
• Both executives had advance review of all SEC filings and press releases before dissemination
• Both had access to internal data regarding customer contract defaults, including the 6.6 gigawatt BP affiliate termination

"Corporate officers have a duty to ensure their companies' public statements are accurate and complete. When executives personally certify SEC filings and deliver earnings call statements, they bear individual responsibility for the truthfulness of those communications." -- Joseph E. Levi, Esq.

Speak with an attorney about recovering damages or call (212) 363-7500.

Scienter Allegations

The action asserts that both defendants knew or were deliberately reckless in not knowing that their public statements were misleading. The complaint identifies their direct operational oversight, participation in customer contract negotiations, and involvement in the decision to establish the $330 million South Carolina facility as evidence that they possessed contemporaneous knowledge of material risks they failed to disclose to shareholders.

Levi & Korsinsky, LLP | Top 50 Securities Firm | (212) 363-7500 | www.zlk.com | Attorney Advertising. Prior results do not guarantee similar outcomes.

Frequently Asked Questions About the FSLR Lawsuit

Q: Who are the defendants named in the FSLR lawsuit? A: The complaint names First Solar, Inc. and individual defendants CEO Mark R. Widmar and CFO Alexander R. Bradley, who signed SEC filings, made public statements on earnings calls, and certified financial disclosures under Sarbanes-Oxley throughout the Class Period.

Q: When did First Solar allegedly mislead investors? A: The Class Period runs from February 26, 2025 to February 24, 2026. The alleged fraud was revealed through corrective disclosures on January 7, 2026 and February 24, 2026, causing combined stock declines of over $60 per share.

Q: What specific misstatements does the FSLR lawsuit allege? A: The complaint alleges First Solar made materially false or misleading statements regarding its capacity to manage U.S. tariff impacts, the consequences of underutilizing international production facilities, and the costs associated with onshoring production to a new U.S. facility. When the true state was revealed, the stock price declined sharply.

Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.

Q: What does it cost me to participate? A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.

Q: What if I already sold my FSLR shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold them. Investors who bought during the Class Period and sold at a loss may still participate.

Q: Do I need to go to court or give testimony? A: No. The overwhelming majority of class members never appear in court or give depositions. You submit a claim form to receive your portion of recovery.

Q: How long will the lawsuit take to resolve? A: Securities class actions typically take two to four years from initial filing to resolution.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171

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