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If you purchased shares of SolarCity Corp (NASDAQ:SCTY), you have certain options and you should contact the Shareholders Foundation, Inc.
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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
March 4, 2014 (Shareholders Foundation) - An investigation on behalf of investors of SolarCity Corp (NASDAQ:SCTY) shares over potential securities laws violations by SolarCity and certain of its directors and officers in connection certain financial statements was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of SolarCity Corp (NASDAQ:SCTY) concerning whether a series of statements by SolarCity regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
SolarCity Corp reported that its annual Total Revenue rose from $59.55 million in 2011 to $128.66 million in 2012 while its Net Income of $43.52 million in 2011 declind to a Net Loss of $64.19 million.
Shares of SolarCity Corp (NASDAQ:SCTY) grew from $10.73 per share in December 2012 to as high as $88.10 per share on February 28, 2014.
Then on March 3, 2014, SolarCity Corp announced a delay in the filing of its Annual Report on Form 10-K for the fiscal year ended December 31, 2013 and the expected restatement of its 2012 consolidated financial statements.
Shares of SolarCity Corp (NASDAQ:SCTY) closed on March 4, 2014 at $82.64 per share.
