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SolarCity Corp (NASDAQ:SCTY) Investor Investigation Concerning Possible Wrongdoing Announced

  • If you purchased shares of SolarCity Corp (NASDAQ:SCTY), you have certain options and you should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Investigation Overview

Company
SolarCity Corp
Security
NASDAQ: SCTY

Summary

March 7, 2016 (Shareholders Foundation) - An investigation on behalf of current long-term investors in shares of SolarCity Corp (NASDAQ:SCTY) was announced over potential breaches of fiduciary duties by certain officers and directors at SolarCity Corp.

The investigation by a law firm concerns whether certain SolarCity directors breached their fiduciary duties and caused damage to the company and its shareholders.

SolarCity Corp went public in December 2012 and shares of SolarCity Corp (NASDAQ:SCTY) grew from under $11 in late 2012 to as high as $84.96 per share in February 2014.

On February 9, 2016, SolarCity Corp announced its fourth quarter and fiscal year 2015 financial results. SolarCity Corp reported that its annual Total Revenue rose from $255.03 million in 2014 to $399.62 million in 2015 while its Net Loss increased from $56.03 million in 2014 to $58.33 million in 2015.

Shares of SolarCity Corp (NASDAQ:SCTY) declined to as low as $16.30 per share on February 11, 2016.

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