Satcon Inverters accused of fraud
The bottom is dropping out of the market for large-scale inverters as government subsidies for renewable energy are lowered worldwide.
America’s largest inverter company, Satcon is running into financial problems, and is being sued by shareholders alleging fraudulent mis-statements. Its shares are at a 3-year low.
Known to some angry shareholders as FatCon, Satcon’s problems are evidence that, despite their warm words, Venture Capitalists and Utility companies are not embracing renewable energy unless they are paid to do so through government subsidies.…