LOS ANGELES--(BUSINESS WIRE)--The Wagner Firm announces that it has filed a class action lawsuit in the United States District Court for the Easter District of Missouri on behalf of a class (the “Class”) of purchasers of SunEdison, Inc. (“SunEdison” or the “Company”) (NYSE: SUNE) securities between February 19, 2014 and January 6, 2016, inclusive (the “Class Period”).
If you are a member of the Class described above, you may move the Court no later than February 1, 2016 to serve as lead plaintiff. Please contact Avi Wagner at 310-491-7949, or at avi@thewagnerfirm.com to discuss this matter.
Between August 6, 2015, and January 7, 2016, SunEdison shares experienced significant drops due to issues relating to the Company’s debt obligations, liquidity, and the Company’s relationship with its yieldcos.
The complaint charges SunEdison and certain of its officers and directors with violations of federal securities laws. Specifically, the complaint alleges that, throughout the Class Period, defendants failed to disclose: (1) that the Company was facing liquidity issues after engaging in various costly acquisitions; (2) that the Company had unsustainable levels of debt; (3) that the Company’s yieldcos were overpaying SunEdison for projects; (4) that the Company’s yieldco business model was unsustainable; and (5) that, as a result of the foregoing, the Company’s statements about its business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Avi Wagner, Esquire, of The Wagner Firm, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, at 310-491-7949, or by e-mail to avi@thewagnerfirm.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.