The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who purchased Sunrun Inc. (NASDAQ : RUN) securities between September 10, 2015 and May 3, 2017.
According to the complaint, throughout the Class Period defendants made 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%.”
If you suffered a loss in Sunrun Inc. you have until July 3, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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