Hanergy Under Investigation For Market Manipulation, Says Reuters

Chinese billionaire and Hanergy Thin Film Power Group founder Li Hejun has not had a very good week. His net worth plummeted alongside Hanergy stock, which was down 47% in just 24 minutes wiping out USD 18.6 billion from the company’s market cap; he was a no show at his own shareholder meeting; and Reuters reports that Hong Kong’s Securities and Futures Commission (the equivalent of the SEC) is investigating Hanergy for stock manipulation. Hanergy stock had displayed a disturbing trend for months Thin-film solar panels are certainly an exciting technology, when they do eventually become economically viable there are…