Glancy Prongay & Murray Commences Investigation on Behalf of TerraForm Power, Inc. Investors
LOS ANGELES--(BUSINESS WIRE)-- Glancy Prongay & Murray LLP (“GPM”) is investigating potential claims on behalf of investors of TerraForm Power, Inc. (“TerraForm Power” or the “Company”) (Nasdaq: TERP) concerning the Company’s and its officers’ possible violations of federal securities laws.
TerraForm Power is a subsidiary of SunEdison Inc. (“SunEdison”). The investigation concerns whether the Company failed to disclose, or made misstatements of material fact regarding, risk associated with the Company’s close relationship with SunEdison, including SunEdison’s reduced ability to finance TerraForm Power projects, and otherwise provide material support to TerraForm Power’s business operations. Shares of TerraForm Power are down more than 50% since July 13, 2015, on news that SunEdison would shift its business model and allegedly provide less support to TerraForm Power.
On November 10, 2015, SunEdison announced poor quarterly results that fell below analyst expectations, and on this news TerraForm Power shares fell $3.45 per share, or nearly 19%, during intraday trading, thereby damaging investors.
If you purchased TerraForm Power securities, 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 [email protected], 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.
About the Firm: Glancy Prongay & Murray LLP has represented investors, consumers and employees for 25 years. Based in Los Angeles with offices in New York City and Berkeley, the Firm has successfully prosecuted class action cases and complex litigation in federal and state courts throughout the country. As Lead Counsel or as a member of Plaintiffs’ Counsel Executive Committees, the Firm has recovered billions of dollars for parties wronged by corporate fraud and malfeasance.
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Glancy Prongay & Murray LLP, Los Angeles
Lesley Portnoy,
310-201-9150 or 888-773-9224
[email protected]
www.glancylaw.com
Source: Glancy Prongay & Murray LLP