NEW YORK--(BUSINESS WIRE)--Scott+Scott, Attorneys at Law, LLP (“Scott+Scott”), a national shareholder and consumer rights litigation firm, announces the commencement of an investigation into SunEdison, Inc. (NYSE:SUNE) (“SunEdison”) related to potential violations of federal securities laws. If you are a SunEdison shareholder and purchased shares of SunEdison preferred stock on August 15, 2015 in the Company’s Secondary Offering, you are encouraged to contact Scott+Scott, Attorneys at Law, LLP for additional information.
SunEdison is the world’s largest renewable-energy developer. SunEdison develops, manufactures, and sells silicon wafers to the semiconductor industry.
On August 15, 2015, SunEdison issued 650,000 shares of 6.75% Series A Perpetual Convertible Preferred Stock at a price of $1,000 per share.
On November 10, 2015, SunEdison reported third-quarter results before the market open, and posted a wider-than expected loss (excluding some items) of $0.92, versus the estimate for $0.65, according to Bloomberg. SunEdison also 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.
On this news, SunEdison shares dropped as much as 24% in trading.
What You Can Do
If you are a SunEdison shareholder that purchased Series A Perpetual Convertible Preferred Stock in the Secondary Offering on August 15, 2015 and you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joseph V. Halloran at (800) 404-7770 or (646) 582-0121 or at firstname.lastname@example.org.
About Scott+Scott, Attorneys at Law, LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide.