Shoals Investors Advance Suit Over Solar Product Defect, Costs

Shoals Technologies Group Inc. investors can proceed with most of their securities claims against the electrical component maker and its executives over an alleged product defect and associated warranty costs, a federal court ruled.

The investors successfully pleaded claims for securities fraud, misleading registration statements, and insider trading, Judge Waverly D. Crenshaw Jr. said Tuesday for the US District Court for the Middle District of Tennessee. The registration statement claim, in connection with Shoals’ 2022 secondary public offering, keeps several underwriters in the suit, including J.P. Morgan Securities LLC and Morgan Stanley & Co.

• The investors alleged Shoals touted the ...