Defunct solar-panel maker Solyndra is accusing a group of Chinese firms of destroying the once-promising Bay Area startup with a scheme to flood the U.S. market with below-cost solar panels.

Fremont-based Solyndra, the embattled beneficiary of more than $500 million in loans backed by the U.S. government, filed a complaint Friday seeking $1.5 billion in compensation for the lost value of the company.