NEW YORK, April 19, 2016 /PRNewswire/ -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Sunrun Inc. ("Sunrun" or the "Company") (NASDAQ: RUN) pursuant or traceable to the Company's August 5, 2015 initial public offering.
You are hereby notified that a securities action has been commenced in the Superior Court of the State of California, County of San Mateo. If you purchased or otherwise acquired Sunrun securities pursuant to the initial public offering, your rights may be affected by this action. To get more information go to: http://zlk.9nl.com/sunrun-run.
The complaint alleges that documents filed in connection with the IPO contained materially false and misleading statements and/or failed to disclose material information, including that, among other allegations: (a) Sunrun understated its historical operating costs by not identifying and disclosing the fixed grid costs being borne for it by public utilities where net metering programs were being employed; (b) Sunrun had been charging well above wholesale rates for the electricity it was selling to its net metering customers; (c) contrary to what was stated in its Registration Statement, Sunrun did not have listed customers dispersed across 15 states and the District of Columbia, but rather a 20% customer concentration in Nevada alone; (d) Sunrun's ability to continue convincing customers to sign 20-year contracts was in jeopardy due to the ongoing regulatory review of net metering programs; and (e) Sunrun was employing an unreasonably low discount rate of 6% in calculating the value of its retained assets when it was overstating the value.
If you suffered a loss in Sunrun and would like additional information, contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/sunrun-run.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation involving financial fraud, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
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SOURCE Levi & Korsinsky, LLP