NEW YORK, May 3, 2017 /PRNewswire/ -- The following statement is being issued by the SunEdison Shareholder Group regarding SunEdison (OTC: SUNEQ).
SunEdison's proposed Plan of Reorganization is a catastrophic blow to shareholders, wiping out 100% of their shares. In an effort to preserve investments, the SunEdison Shareholder Group has retained lawyers and financial advisors and intends to object to the Plan. The first impending deadline is May 9th.
According to Jordan Danelz, chair of the group: "We've been kept in the dark far too long. We are entitled to transparency on critical information about the value of SunEdison's assets – and correspondingly, the value of our shares. We will never get that information unless we do two things: stand together as a unified group, and pool our resources so that our lawyers and financial advisors can properly represent us."
Approval of SunEdison's proposed Plan is slated to begin imminently. Danelz says, "We cannot bury our heads in the sand and pretend that this problem will go away on its own -- it will not. If we do not take immediate action, everyone will lose their investments. We encourage anyone who owns SunEdison stock to visit our website and contribute to the collective effort to preserve the value our investments."
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SOURCE SunEdison Shareholder Group