The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the District of Maryland on behalf of investors who purchased TerraForm Power Inc. (NASDAQ: TERP) securities between May 7, 2015 and March 15, 2016.
The complaint alleges that: (a) TerraForm’s Management Services Agreement with SunEdison, Inc., its controlling shareholder, exposed TerraForm to risks associated with SunEdison’s internal financial controls and any deficiencies therein; (b) as a result, TerraForm lacked effective internal financial controls; and (c) furthermore, TerraForm’s public statements were materially false and misleading at all relevant times.
On February 29, 2016, SunEdison announced it was delaying the filing of its fiscal year 2015 Form 10-K with the SEC. TerraForm also announced a delay in filing the same day. Then on March 16, 2016, both companies announced another filing delay.
If you suffered a loss in TerraForm you have until June 3, 2016 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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