Malaysia & Jefferies

Malaysia: First Solar's production facilities in Malaysia were subject to U.S. tariffs and experienced intentional underutilization, impacting the company's projected performance.

Jefferies: Jefferies downgraded First Solar's stock to Hold from Buy, citing lowered guidance, de-bookings, and margin compression, which contributed to a significant drop in First Solar's stock price.

Malaysia: Malaysia is one of the countries where First Solar has production facilities. Tariffs on Malaysian imports and underutilization of these facilities are key issues in the lawsuit.

Jefferies: Jefferies downgraded First Solar to Hold on January 7, 2026, citing lowered guidance, de-bookings, and margin compression. This downgrade was a key disclosure event that triggered a stock drop and is central to the lawsuit.