DENVER--(BUSINESS WIRE)--The Shuman Law Firm announces that it is investigating potential claims against certain officers and directors of Sunrun Inc. (“Sunrun” or the “Company”) (Nasdaq: RUN). Sunrun, a San Francisco, CA-based company, sells and maintains residential solar energy systems in the United States.
The Firm’s investigation relates to whether certain current and/or former senior officers and directors of Sunrun breached their fiduciary duties to the Company. On May 3, 2017, the Wall Street Journal reported that four former managers at Sunrun stated that they had “manipulated a key sales metric around the time of the Company’s August 2015 initial public offering.” The former managers allegedly stated that they were told by their superiors to hold off on internally reporting hundreds of customers who canceled their contracts during a roughly five-month period in the middle of 2015. Delaying the internal reporting of canceled contracts would make the Company’s sales figures appear stronger. Following these allegations, investors sued the Company for violations of federal securities laws. Sunrun’s stock price has also failed to generate growth, despite record returns for the U.S. economy and the NASDAQ index (37% increase) between Sunrun’s August 2015 IPO and the date of this release. Sunrun’s stock has fallen from its IPO debut price of $14 per share to approximately $8.69 per share -- a drop of approximately 37% -- as of the date of this release.
If you currently own Sunrun common stock and are interested in discussing your rights, or have information relating to this investigation, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 569-4531 or email Mr. Shuman at email@example.com or Mr. Glenn at firstname.lastname@example.org.
The Shuman Law Firm represents investors throughout the nation, concentrating its practice in stockholder litigation.