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EXCEL - IDEA: XBRL DOCUMENT - Solar Power, Inc.Financial_Report.xls
10-Q/A - AMENDMENT TO FORM 10-Q - Solar Power, Inc.d320119d10qa.htm
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EX-31.1 - CERTIFICATION OF THE PRINCIPAL EXECUTIVE OFFICER PURSUANT TO SECTION 302 - Solar Power, Inc.d320119dex311.htm
EX-31.2 - CERTIFICATION OF THE PRINCIPAL FINANCIAL OFFICER PURSUANT TO SECTION 302 - Solar Power, Inc.d320119dex312.htm
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EX-32 - CERTIFICATION OF PEO AND PFO PURSUANT TO SECTION 906 - Solar Power, Inc.d320119dex32.htm
v2.4.0.6
Litigation
9 Months Ended
Sep. 30, 2011
Commitments and Contingencies and Litigation [Abstract]  
Litigation

20. Litigation

On January 25, 2011, a putative class action was brought against the Company, the Company’s directors and LDK Solar Co., Ltd. (“LDK”), in the Superior Court of California, County of Placer. The complaint alleges violations of fiduciary duty by the individual director defendants concerning the Stock Purchase Agreement the Company and LDK entered into on January 5, 2011 (as described in note 9), pursuant to which defendant LDK agreed to acquire 70% interest in the Company. Plaintiff contends that the independence of the individual director defendants was compromised because they are allegedly beholden to defendant LDK for continuation of their positions as directors and possible further employment. Plaintiff further contends that the proposed transaction is unfair because it allegedly contains onerous and preclusive deal protection devices, such as no shop, standstill and no solicitation provisions and a termination fee that operates to effectively prevent any competing offers. The complaint alleges that the Company aided and abetted the breaches of fiduciary duty by the individual director defendants by providing aid and assistance. Plaintiff asks for class certification, the enjoining of the sale, or if the sale is completed prior to judgment, rescission of the sale and damages. The Company has insurance coverage for this type of action.

In October, 2011, subsequent to the end of the quarter, the plaintiff entered a dismissal with prejudice dismissing the case against the Company.