Wolf Popper LLP Announces Investigation on Behalf of Investors in Sunrun Inc.
NEW YORK, June 5, 2017
Wolf Popper LLP is investigating potential securities fraud claims on behalf of investors in Sunrun Inc. (NASDAQ: RUN). The investigation focuses on whether Sunrun, in SEC filings and other documents disseminated to investors, falsely reported certain financial metrics concerning sales and customer cancellations. Such investors should contact Fei-Lu Qian at 877.370.7703 or firstname.lastname@example.org.
At least two class action lawsuits have already been filed in a federal court in California. If you wish to serve as lead plaintiff in those actions, you must move the Court no later than July 3, 2017. A lead plaintiff is a representative party acting on behalf of class members in directing the litigation.
Sunrun engages in the development and sale of residential solar energy systems in the United States.
On May 3, 2017, The Wall Street Journal reported that the U.S. Securities and Exchange Commission is investigating whether Sunrun “adequately disclosed how many customers have canceled contracts after signing up for a home solar-energy system” as an “increase in cancellations caused Sunrun to halve its growth expectations in 2016 from 80% to 40%.”
This news caused Sunrun shares to fall nearly 9% on May 3, 2017.
On May 22, 2017, WSJ further reported that “around the time of the company’s August 2015 initial public offering,” former sales managers “manipulated a key sales metric” after being told by “their superiors to hold off on internally reporting hundreds of customers who canceled their contracts.”
This news caused Sunrun shares to fall an additional 3% on May 22, 2017.
Wolf Popper LLP has extensive experience representing shareholders in securities class actions. The reputation and expertise of the firm in representing shareholders has been repeatedly recognized by the courts, which have appointed the firm to major positions in securities litigation. See www.wolfpopper.com.
Attorney Advertising: Prior Results Do Not Guarantee A Similar Outcome.
Wolf Popper LLP
845 Third Avenue
New York, NY 10022