The Klein Law Firm Notifies Investors of a Class Action Filed on Behalf of Sunrun Inc. Shareholders & a Lead Plaintiff Deadli...
June 06 2017 - 11:45AM
Business Wire
The Klein Law Firm announces that a class action complaint has
been filed on behalf of shareholders of Sunrun Inc. (NASDAQ: RUN)
who purchased shares between September 10,
2015 and May 3, 2017. The
action, which was filed in the United States District Court for the
Northern District of California, alleges that the Company violated
federal securities laws.
In particular, the complaint alleges that throughout the Class
Period, defendants made materially false and/or misleading
statements and/or failed 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)
discovery of the foregoing 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 reported that the U.S. Securities and Exchange
Commission (“SEC”) is investigating whether Sunrun “adequately
disclosed how many customers have canceled contracts after signing
up for a home solar-energy system.” The report stated that the SEC
“recently issued a subpoena to Sunrun and interviewed current and
former employees about the adequacy of its disclosures on account
cancellations.” The report added that the customer cancellation
figure at Sunrun “grew to be as high as 40% earlier this year” and
that an “increase in cancellations caused Sunrun to halve its
growth expectations in 2016 from 80% to 40%.”
Shareholders have until July 3, 2017 to petition the
court for lead plaintiff status. Your ability to share in any
recovery does not require that you serve as lead plaintiff. You may
choose to be an absent class member.
If you suffered a loss during the class period and wish to
obtain additional information, please contact Joseph Klein, Esq. by
telephone at 212-616-4899 or visit
http://www.kleinstocklaw.com/pslra-sa/sunrun-inc?wire=2.
Joseph Klein, Esq. is an experienced attorney and has also
practiced as a Certified Public Accountant. Mr. Klein represents
investors and participates in securities litigations involving
financial fraud throughout the nation. Attorney advertising. Prior
results do not guarantee similar outcomes.
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version on businesswire.com: http://www.businesswire.com/news/home/20170606006266/en/
The Klein Law FirmJoseph Klein, Esq., 212-616-4899Fax:
347-558-9665www.kleinstocklaw.com
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