NEW YORK, June 23, 2017 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of Sunrun Inc. securities (NASDAQ: RUN) from September 16, 2015 through May 2, 2017, inclusive (the "Class Period"). The lawsuit seeks to recover damages for Sunrun investors under the federal securities laws.
To join the Sunrun class action, go to http://rosenlegal.com/cases-1117.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email firstname.lastname@example.org or email@example.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, defendants during the Class Period made false and misleading statements and/or failed to disclose that: (1) Sunrun failed to adequately disclose how many customers canceled contracts after signing up for Sunrun's home-solar energy system; (2) discovery of such conduct would subject Sunrun to heightened regulatory scrutiny and potential civil sanctions; and (3) 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 Sunrun was the subject of a SEC probe and according to a person familiar with the investigation, "[t]he SEC recently issued a subpoena to Sunrun and interviewed current and former employees about the adequacy of its disclosures on account cancellations." On this news, shares of Sunrun fell $0.46 per share or over 8% to close at $4.75 per share on May 3, 2017, damaging investors.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 3, 2017. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://rosenlegal.com/cases-1117.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at firstname.lastname@example.org or email@example.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Since 2014, Rosen Law Firm has been ranked #2 in the nation by Institutional Shareholder Services for the number of securities class action settlements annually obtained for investors.
Laurence Rosen, Esq.
Phillip Kim, Esq.
Kevin Chan, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 34th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
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SOURCE Rosen Law Firm, P.A.