A lawsuit was filed on behalf of investors in Sunedison Inc (NYSE:SUNE) shares over alleged securities laws violations and NYSE:SUNE investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/05/2016 -- A shareholder in Sunedison Inc filed a lawsuit over alleged violations of Securities Laws by Sunedison Inc in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Sunedison Inc (NYSE:SUNE) have certain options and for certain investors are short and strict deadlines running. Deadline: February 1, 2016. NYSE:SUNE investors should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The plaintiff claims that SunEdison and certain corporate insiders made materially misleading misrepresentations and omissions regarding SunEdison's business and operations. Among other things, the lawsuit alleges that defendants misrepresented and failed to disclose that SunEdison did not have the financial resources to sustain its acquisition binge.
Shares of Sunedison Inc (NYSE:SUNE) grew from $3.70 per share in early 2013 to as high as $31.56 per share in July 2015.
On October 5, 2015, the Company disclosed it was laying off 15% of its workforce.
On November 10, 2015, Sunedison Inc reported third-quarter results before the market open. Sunedison Inc 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. Shares of Sunedison Inc (NYSE:SUNE) declined to as low as $2.81 per share on November 17, 2015.
On December 31, 2015, NYSE:SUNE shares closed at $5.09 per share.
Those who purchased shares of Sunedison Inc (NYSE:SUNE) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego