WILMINGTON, Del., Oct. 29, 2015 /PRNewswire/ -- Rigrodsky & Long, P.A.:
- Do you own shares of TerraForm Global, Inc. (NasdaqGS: GLBL)?
- Did you lose money in your investment?
Rigrodsky & Long, P.A. announces that it has commenced an investigation of TerraForm Global, Inc. ("TerraForm" or the "Company") for possible violations of the federal securities laws by the Company and certain of its officers and directors.
On July 31, 2015, TerraForm conducted an initial public offering (the "IPO") in which it sold 45 million shares of stock at $15.00 per share, raising $675 million. Less than a week later, on August 6, 2015, TerraForm's parent company, SunEdison, Inc. ("SunEdison"), announced that it had incurred a $256 million second-quarter loss, which was five times more than the $51 million loss SunEdison posted for the same period in 2014. SunEdison also announced that its Selling, General, & Administrative ("SG&A") expenses had increased to $259 million for the second quarter 2015, compared to $108 million for the same period in the previous year. Following the announcement of these SunEdison results, the price of TerraForm's stock fell more than 17%.
Since the IPO, the price of TerraForm's stock has dropped more than 44%, closing at $7.52 per share on October 28, 2015.
Rigrodsky & Long is investigating to determine whether certain statements regarding the Company's business and prospects were false and misleading when made. If you purchased shares of TerraForm and wish to discuss this investigation, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail at [email protected]; or at: http://rigrodskylong.com/investigations/terraform-global-glbl.
Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE Rigrodsky & Long, P.A.