NEW YORK, Jan. 11, 2016 /PRNewswire/ -- The law firm Gardy & Notis, LLP filed a class action lawsuit in the United States District Court for the Eastern District of Missouri, Case No. 15-cv-1769, on behalf of stockholders who purchased or otherwise acquired securities of SunEdison, Inc. ("SunEdison" or the "Company") (NYSE: SUNE) from June 16, 2015 through October 6, 2015, inclusive (the "Class Period"). The action alleges that SunEdison and certain of its executive officers violated Sections 10(b) and 20(a) of the Securities Exchange Act (the "Exchange Act").
If you are a stockholder who purchased SunEdison securities during the Class Period, you have until February 1, 2016 to ask the Court to appoint you as Lead Plaintiff for the Class. If you have questions about the case or would like to get a copy of the complaint please contact Mark C. Gardy or Jennifer Sarnelli at Gardy & Notis, LLP, 126 East 56th Street, 8th Floor, New York, NY 10022, Telephone: 212-905-0509, Fax: 212-905-0508, email: firstname.lastname@example.org or email@example.com.
The lawsuit alleges that SunEdison and certain corporate insiders made materially misleading misrepresentations and omissions regarding SunEdison's business and operations. Among other things, the lawsuit alleges that defendants misrepresented and failed to disclose that SunEdison did not have the financial resources to sustain its acquisition binge. On October 5, 2015, the truth about the Company's financial soundness was revealed when the Company announced it was laying off 15% of its workforce. SunEdison's stock dropped to $8.69, from a high of $30.96 at the start of the Class Period on June 16, 2015 – a 72% drop.
Plaintiff seeks to recover money damages on behalf of all purchasers of SunEdison securities during the Class Period. The plaintiff is represented by Gardy & Notis, LLP, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud. Gardy & Notis, LLP has investigated the facts of this action and filed the first complaint on behalf of SunEdison stockholders.
GARDY & NOTIS, LLP Mark C. Gardy Jennifer Sarnelli 126 East 56th Street, 8th Floor New York, NY 10022 Telephone: 212-905-0509 E-mail: firstname.lastname@example.org or email@example.com Website: www.gardylaw.com
SOURCE Gardy & Notis, LLP