The suit claims the company gave misleading information that led to an inflated stock price.
The Denmark-based wind turbine manufacturer has a production plant in Pueblo. Colo. Sen. Michael Bennet, a Democrat, toured the plant yesterday.
The lawsuit’s argument centers around a move by Vestas last fall to change accounting procedures related to how it recognizes revenue on certain projects.
According to the complaint, revenue from supply-and-installation contracts – in which Vestas delivers, installs and commissions turbines for a customer – had been recognized based on the percentage of work completed during that reporting period.