Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Sunrun Inc. (RUN)


NEW YORK, April 22, 2016 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Sunrun, Inc. (“Sunrun” or the “Company”) (Nasdaq:RUN) on behalf of purchasers of Sunrun common stock pursuant to and/or traceable to Sunrun’s August 5, 2015 Initial Public Offering (the “IPO”). The lawsuit seeks to recover damages for Sunrun investors under the federal securities laws.

According to the Complaint, the offering documents filed in connection with the IPO contained materially false and misleading statements and omissions, including that: (1) Sunrun understated its actual historical operating costs by not identifying and disclosing the fixed grid costs being borne for it by public utilities where net metering programs were being employed; (2) Sunrun had been charging well above wholesale rates for the electricity it was selling to its net metering customers; (3) contrary to having listed customers dispersed across 15 states and the District of Columbia in its Registration Statement, Sunrun had a substantial 20% customer concentration in Nevada alone; (4) Sunrun’s ability to continue convincing customers to sign 20-year contracts was in jeopardy due to the ongoing regulatory review of net metering programs; and (5) Sunrun was employing an unreasonably low discount rate of 6% in calculating the value of its retained assets when it was overstating the value.  When the true details entered the market, the lawsuit claims that investors suffered damages.

If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.