First Solar & IBM — IBM Research

First Solar: First Solar is the defendant in multiple class action lawsuits alleging that it made false and misleading statements regarding its capacity to manage the impact of U.S. tariff policy and the negative effects of its responses to these policies on its projected performance. Its stock price fell significantly following downgrades and missed earnings expectations.

IBM — IBM Research: IBM — IBM Research downgraded First Solar's stock to Neutral from Outperform after the company announced missed earnings expectations and lower-than-expected revenue guidance, further impacting First Solar's stock price.

First Solar: First Solar is the defendant in the securities class action, accused of misleading investors about tariff impacts and production relocation. The company's stock fell sharply after downgrades and weak earnings, and it faces potential financial liability and reputational harm.

IBM — IBM Research: IBM — IBM Research downgraded First Solar to Neutral after its weak Q4 earnings, citing forward outlook concerns. This downgrade contributed to the stock decline and is part of the narrative in the lawsuit.