If you are a shareholder who purchased Sunrun securities between September 10, 2015 and May 3, 2017, you have until July 3, 2017 to ask the Court to appoint you as Lead Plaintiff for the class. To discuss this action, contact David P. Abel at email@example.com
Sunrun engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. The Company markets and sells its products through direct channels, partner channels, mass media, digital media, canvassing, referral, retail, and field marketing.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (i) Sunrun failed to adequately disclose how many customers canceled contracts after signing up for the Company’s home-solar energy system; (ii) consequently, discovery of this conduct would subject the Company to heightened regulatory scrutiny and potential civil sanctions; and (iii) as a result, Sunrun’s public statements were materially false and misleading at all relevant times.
On May 3, 2017, The Wall Street Journal published an article disclosing that the Company was the subject of a probe initiated by the Securities and Exchange Commission (“SEC”). The article stated, in part, that “the SEC recently issued a subpoena to Sunrun and interviewed current and former employees about the adequacy of its disclosures on account cancellations.” On this news, Sunrun’s share price fell from $5.21 per share on May 2, 2017 to a closing price of $4.75 on May 3, 2017—a $0.46 or a 8.83% drop.
U.S. Market Advisors Law Group PLLC is a national law firm based in Washington, D.C. The firm represents investors worldwide in U.S. securities class action lawsuits.
David P. Abel