From Tech Trader Daily:
Evergreen Solar (ESLR) shares are down sharply today, in a move that may be tied to a convertible offering the company completed in June that included a hedging transaction involving Lehman Bros....
...Update: In a statement late this afternoon, Evergreen said that the stock was lent to Lehman affiliates that have not filed for bankruptcy protection and that the agreements covering the shares “are structured to provide Evergreen Solar with as much legal protection as is customarily available in transactions such as these.”...
...Update 2: Meanwhile, it looks a similar problem has hit JA Solar (JASO), which raised $300 million in a convertible deal in May in which entered a stock-lending deal as a part of a hedging transaction with the co-book runners on the deal - Lehman and Credit Suisse....MORE
