NEW YORK, Nov. 20, 2015 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, announces the filing of a securities class action lawsuit on behalf of purchasers of TerraForm Global, Inc. (NASDAQ:GLBL) pursuant and/or traceable to the Registration Statement and Prospectus issued in connection with TerraForm’s July 31, 2015 initial public stock offering (“IPO”). The lawsuit seeks to recover damages for TerraForm investors under the federal securities laws.
To join the TerraForm class action, go to the firm’s website at http://rosenlegal.com/cases-721.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.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.
The Complaint alleges that Defendants failed to disclose material information in its Registration Statement, including failure to disclose that by the time of the IPO: (1) the IPO sponsor SunEdison was experiencing unprecedented losses that would be revealed just days after the finalization of the IPO; (2) SunEdison was experiencing liquidity and debt issues that ended its ability to develop projects to sell to TerraForm; thus, TerraForm’s “Yield Co” business model was effectively moribund from the outset; and (3) the aggressive growth plans for SunEdison and TerraForm were unachievable. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 28, 2015. 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 the firm’s website at http://rosenlegal.com/cases-721.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 pkim@rosenlegal.com or kchan@rosenlegal.com.
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.