SAN FRANCISCO, Dec. 28, 2015 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP, a national investor-rights law firm, reminds investors with significant losses of the February 1, 2016 lead plaintiff deadline in the securities fraud class action lawsuit filed against SunEdison, Inc. (NYSE:SUNE). SunEdison’s stock dropped almost 25% on Tuesday as hedge fund Appaloosa demanded to see transactions documents between SunEdison and Vivint in a letter filed with the SEC.
If you suffered losses because of your purchase of SunEdison securities between June 16, 2015 and October 6, 2015, contact Hagens Berman Partner Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000, emailing SUNE@hbsslaw.com or visiting https://www.hbsslaw.com/cases/SUNE. The lawsuit was filed in the U.S. District Court for the Eastern District of Missouri and investors have until February 1, 2016 to move the court to act as lead plaintiff.
On October 5, 2015, SunEdison announced it was laying off 15% of its workforce. The Company’s stock dropped to $8.69, a 72% drop from a high of $30.96 at the start of the Class Period on June 16, 2015. The lawsuit related to this drop alleges that SunEdison misled investors in the months leading up to their stunning layoff announcement by concealing the fact that the Company did not have the financial resources to sustain its acquisition-dependent business model.
If you lost more than $100,000 in your investments in SunEdison securities between June 16, 2015 and October 6, 2015 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.
Whistleblowers: Persons with non-public information regarding SunEdison should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email SUNE@hbsslaw.com.
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Contact: Reed Kathrein, 510-725-3000
Source:Hagens Berman Sobol Shapiro LLP