Court Dismisses $950 Million Predatory Pricing Conspiracy Action Against Simpson Thacher’s Client, Yingli
11.04.14
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U.S. District Judge Robert H. Cleland on Friday dismissed a $950 million action brought by the liquidating trustee for Energy Conversion Devices (ECD) against Simpson Thacher’s client, Yingli Green Energy Holding Company and Yingli Green Energy Americas, Inc. ECD alleged that Yingli and two other China-based solar panel manufacturers conspired to price solar panels sold in the United States at unreasonably low or below-cost prices in an effort to drive ECD and other U.S. solar panel manufacturers out of business. The Court dismissed the case for failure to plead antitrust standing. It held that ECD failed to plead that defendants had a dangerous probability of recouping their losses and, therefore, “unreasonably low and/or below-cost pricing d[id] not harm competition.”
The Firm's team on this motion included Mike Garvey, Jonathan Sanders and Karen Gift. The team is currently defending Yingli in a similar action brought by Solyndra in the Northern District of California.