NEW YORK, Nov. 06, 2015 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of all persons or entities that purchased the securities of TerraForm Global, Inc. (“TerraForm”) (NASDAQ: GLBL ). The class action is filed on behalf of all those who purchased TerraForm securities pursuant or traceable to the Company’s Initial Public Offering (“IPO”) on July 31, 2015.
Shareholders of who incurred losses on shares on purchased shares directly on, or pursuant to, the IPO, are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774.
If you purchased the shares of TerraForm Global, Inc., you may, no later than December 28, 2015 request that the Court appoint you lead plaintiff of the proposed class.
TerraForm owns and operates contracted “clean power” generation assets in emerging market countries. It was structured to obtain the bulk of these assets from its parent company and sponsor, SunEdison, Inc. ("SunEdison"). SunEdison was to provide a continuous pipeline of new clean energy assets for acquisition by TerraForm. The filed Complaint alleges that in connection with the IPO, the defendants made materially false and misleading statements regarding the financial health of SunEdison and the viability of TerraForm’s business strategy. Specifically, the Registration Statement failed to disclose that by the time of the July 31, 2015 IPO, SunEdison was experiencing severe liquidity issues that rendered it unable to provide the needed pipeline of new projects to TerraForm, and, as a result, TerraForm’s business objectives were unachievable.
Once these facts were disclosed to the market, the price of the TerraForm’s stock dropped precipitously. The stock is currently trading at approximately 50% below its IPO price of $15.00 per share.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at classmember@whafh.com , or visit our website at www.whafh.com. All e-mail correspondence should make reference to the “TerraForm.”
Attorney Advertising. Prior results do not guarantee or predict a similar outcome.
Wolf Haldenstein Adler Freeman & Herz LLP Patrick Donovan, Esq. Gregory Stone, Director of Case and Financial Analysis Email: gstone@whafh.com, donovan@whafh.com or classmember@whafh.com Tel: (800) 575-0735 or (212) 545-4774
