LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) reminds investors that a class action complaint has been filed on behalf of a class of SunEdison, Inc. (“SunEdison” or the “Company”) (NYSE: SUNE) investors who purchased shares between February 19, 2014 and January 6, 2016, inclusive (the “Class Period”). Investors with losses in excess of $1,000,000 are encouraged to contact GPM to discuss their legal rights.
The lawsuit alleges 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. The Company's true financial condition was revealed through a series of disclosures. On November 9, 2015, the Company filed a Form 10-Q with the SEC disclosing significant new facts about its true financial condition, and revealed that the Company was in fact facing a cash and liquidity crisis. In response to these disclosures, SunEdison's stock dropped from a high of $33.45 per share to $4.54 per share – an 86% price decline.
If you purchased shares of SunEdison during the Class Period you may move the Court no later than February 1, 2016 to request appointment as lead plaintiff, or if you have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, 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 shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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