STEVENSON, Md.--(BUSINESS WIRE)--The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of purchasers of TerraForm Global, Inc. (NASDAQ:GLBL) (“TerraForm Global” or the “Company”) common stock pursuant and/or traceable to the Registration Statement and Prospectus issued in connection with TerraForm Global’s July 31, 2015 initial public stock offering (the “IPO”). Investors who wish to become proactively involved in the litigation have until December 28, 2015 to seek appointment as lead plaintiff.
If you have suffered a loss from investment in TerraForm Global common stock issued pursuant and/or traceable to the Registration Statement and the Company’s July 31, 2015 IPO offering, and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html. You may also request more information by contacting Brower Piven either by email at firstname.lastname@example.org or by telephone at (410) 415-6616. No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Company common stock during the Class Period. Brower Piven also encourages anyone with information regarding the Company’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.
The complaint accuses the defendants of violations of the Securities Act of 1933 by virtue of the defendants’ failure to disclose during the Class Period that the TerraForm Global IPO sponsor, SunEdison, was experiencing unprecedented losses and liquidity and debt issues that ended its ability to develop projects to sell to TerraForm Global such that the aggressive growth plans for SunEdison and TerraForm Global were unachievable.
According to the Complaint, following the revelation of these issues following the closing of TerraForm Global’s IPO, the value of TerraForm Global shares declined substantially.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.