LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) reminds investors of the July 3, 2017 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Sunrun Inc. (“Sunrun” or the “Company”) (NASDAQ: RUN) securities between September 10, 2015 and May 3, 2017, inclusive (the “Class Period”). Sunrun investors have until July 3, 2017 to file a lead plaintiff motion. To obtain information or participate in the class action, please visit the Sunrun page on our website at http://www.glancylaw.com/case/sunrun-inc.
On May 3, 2017, the Wall Street Journal reported that the U.S. Securities and Exchange Commission is investigating whether Sunrun has adequately disclosed to investors how many customers canceled contracts after signing up for home solar-energy systems. And, on this news shares of Sunrun declined sharply in value.
On May 22, 2017, the Wall Street Journal reported that Sunrun allegedly manipulated the reported numbers of canceled customer contracts immediately before Sunrun’s August 2015 IPO. Sunrun allegedly instructed managers to delay internally reporting “hundreds” of canceled contracts during a five-month period in mid-2015, the Wall Street Journal reported citing former regional managers.
The class action complaint filed on behalf of investors alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that the Company was concealing customer cancelations from investors; (2) that the Company engaged in corrupt sales practices; (3) that, as a result of the foregoing, the Company was exposed to potential civil and criminal liability; and (4) that, as a result of the foregoing, Defendants’ statements about Sunrun’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
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If you purchased or otherwise acquired Sunrun shares during the Class Period you may move the Court no later than July 3, 2017 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action 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 action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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