An investor in shares of Sunedison Inc (NYSE:SUNE), filed a lawsuit in the U.S. District Court for the Eastern District of Missouri over alleged violations ofSecurities Laws by Sunedison Inc in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Sunedison Inc (NYSE:SUNE) have certain options and for certain investors are short and strict deadlines running. Deadline: February 1, 2016. NYSE:SUNE investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff claims that SunEdison and certain corporate insiders made materially misleading misrepresentations and omissions regarding SunEdison’s business and operations. Among other things, the lawsuit alleges that defendants misrepresented and failed to disclose that SunEdison did not have the financial resources to sustain its acquisition binge.
Sunedison Inc reported that its annual Total Revenue rose from over $2 billion in 2013 to over $2.48 billion in 2014 while its Net Loss increased from $586.70 million in 2013 to over $1.18 billion in 2014. Shares of Sunedison Inc grew from $3.70 per share in early 2013 to as high as $31.56 per share in July 2015.
On October 5, 2015, the Company disclosed it was laying off 15% of its workforce.
On November 10, 2015, Sunedison Inc reported third-quarter results before the market open. Sunedison Inc cut its full-year guidance for unlevered annualized cash available for distribution (“CAFD) for retained megawatts (“MW”) to $261-$271 million from $275-$325 million. Shares of Sunedison Inc (NYSE:SUNE) declined to as low as $2.55 per share on November 20, 2015.
Those who purchased shares of Sunedison Inc (NYSE:SUNE) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com