That sure didn't take long. GT Solar International completed its $500 million IPO on July 23, 2008. Then on August 1, 2008, a mere seven trading days later, the plaintiffs' lawyers initiated a purported securities class action lawsuit in the United States District Court for the District of New Hampshire against the company and certain of its directors and officers, as well as the offering underwriters. A copy of the plaintiffs' lawyers August 1 press release can be found here. A copy of the complaint can be found here. According to the press release, the proceeds of the IPO went to GT Solar Holdings, which in turn "intended to use the net proceeds … to make a distribution to its shareholders." The press release also states that: on July 25, 2008, before the market opened, LDK Solar Co., LTD ("LDK"), GT Solar's largest customer, issued a press release announcing that it had signed a contract to purchase production equipment from one of GT Solar's competitors.