14.07.2016
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DGAP-Adhoc: SolarWorld AG: Motion for summary judgment granted in the first instance
SolarWorld AG / Key word(s): Legal Matter/Miscellaneous
14.07.2016 11:42
Disclosure of an inside information according to Article 17 MAR,
transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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SolarWorld AG: Motion for summary judgment granted in the first instance
In the litigation between silicon supplier Hemlock Semiconductor Corp. and
SolarWorld Industries Sachsen GmbH, a subsidiary of SolarWorld AG, the
United States District Court for the Eastern District of Michigan decided
in the evening of July 13, 2016 to grant the motion for summary judgment
filed by Hemlock in the first court instance.
This ruling is no final judgment in this case, but means that the court
will decide on the claims made by Hemlock on its own, i. e. without
involving a jury. A date on which such judgement will be announced has not
yet been set by the court.
If the court should decide in favor of the plaintiff, SolarWorld Industries
Sachsen GmbH will appeal against this judgment of the first instance in the
United States.
Inspite of this court decision, SolarWorld AG continues to assume that
Hemlock will not be able to actually enforce any claims in Germany. There
are anti-trust concerns under European law regarding the effectiveness of
the underlying supply contracts. If a potential ruling by a U.S. court was
to be enforced in Germany, Hemlock would have to initiate a recognition
process at German courts according to Sec. 722 (1) of the German code of
civil procedure. This would require the existence of a final - i.e. non-
appealable - judgement from the United States. Moreover, in such a process,
the compliance of fundamental principles of German law would have to be
considered in reaching a verdict. According to settled opinion in
jurisdiction, European trust law is a fundamental principle of the German
legal system. Thus, SolarWorld AG is optimistic that such a procedure of
recognition and enforcement would fail to be concluded successfully in
Germany.
Contact:
SolarWorld AG
Investor Relations
Phone: +49 228 55920-470; Fax: +49 228 55920-9470,
Email: [email protected]; Web: www.solarworld.de/en/investor-
relations
14.07.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: SolarWorld AG
Martin-Luther-King-Straße 24
53175 Bonn
Germany
Phone: +49 (0)228 - 559 20 470
Fax: +49 (0)228 - 559 20 9470
E-mail: [email protected]
Internet: www.solarworld.de
ISIN: DE000A1YCMM2, DE000A1YDDX6, DE000A1YCN14
WKN: A1YCMM, A1YDDX, A1YCN1
Listed: Regulated Market in Dusseldorf, Frankfurt (Prime Standard);
Regulated Unofficial Market in Berlin, Hamburg, Munich,
Stuttgart; Terminbörse EUREX
End of Announcement DGAP News-Service
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