Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Sunrun, Inc. To Contact The Firm Before Lead Plaintiff Deadline
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Sunrun, Inc. (“Sunrun” or the “Company”) (NYSE: RUN) of the July 5, 2016 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.
The lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of all those who purchased Sunrun stock pursuant to the August 5, 2016 Initial Public Offering (“IPO”). The case, Greenberg v. Sunrun Inc. et al, No. 16-cv-02480 was filed on May 6, 2016, and has been assigned to Judge Charles R. Breyer.
The investigation focuses on whether the Company and its executives violated federal securities laws by issuing false statements or failing to disclose material information regarding the Company’s business practices and capital structure in connection with its IPO.
Specifically, on January 7, 2016, the Company admitted that it was ceasing all operations in Nevada. Then on March 10, 2016, the Company also admitted that residential solar growth would decline in 2016 due to its having halted operations in Nevada, with installation growth falling from 76% in 2015 to just 40% in 2016.
The price of Sunrun common stock has plummeted as the market learned that business metrics and financial prospects were not as strong as the IPO Registration Statement represented. The stock recently closed at a price of $7.39 per share on May 9, 2016, a $6.61 or 47.2% drop from the $14 per share IPO price.
If you purchased Sunrun stock or options, and would like to discuss your legal rights, please fill out the form below. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Sunrun’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Please tell us about yourself by completing the form and we will provide you with additional
information on how to join the Class Action at no cost to you.
* The submission of this form does not create an attorney-client relationship.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.