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Sunrun Inc (NASDAQ: RUN) Investor Securities Class Action Lawsuit 05/03/2017

  • You must submit the settlement Proof form attached below, in order to participate in this settlement. There is a strict deadline of March 4, 2019 by which all claims must be submitted. The instructions for submitting are included in the Proof and the Notice files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, INC.

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

Lawsuit Overview

Company
Sunrun Inc
Security
NASDAQ: RUN

Case Name
Sunrun Shareholder Class Action Lawsuit 05/03/2017
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Northern District of California

Class Period Begin
Class Period End
Deadline To File for Lead
Settlement Notice
Sunrun_Notice_11_20_2018.pdf
Settlement Proof
Sunrun_Proof_11_20_2018.pdf
Filed Complaint
sunrun_inc_original_filing_edited_5_2017.pdf
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Settlement Overview

Date Settled
Date Settled
Settlement Amount
$2,500,000.00
Deadline to Participate in Settlement

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Summary

November 20, 2018 - The court preliminarily approved the settlement.

September 27, 2018 - A stipulation of settlement was filed by the parties.

July 19, 2018 - The court granted defendants' motion to dismiss.

May 31, 2018 - A motion to dismiss the second amended complaint was filed.

May 3, 2018 - A second amended complaint was filed.

November 9, 2017 - A motion to dismiss the amended complaint was filed.

September 25, 2018 - An amended complaint was filed.

May 4, 2017 - Another investor in shares of Sunrun Inc (NASDAQ: RUN) filed a lawsuit in the U.S. District Court for the Northern District of California over alleged violations of Federal Securities Laws by Sunrun Inc in connection with certain allegedly false and misleading statements made between September 10, 2015 and May 3, 2017.

According to the complaint the plaintiff alleges on behalf of purchasers of Sunrun Inc (NASDAQ: RUN) common shares between September 10, 2015 and May 3, 2017, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between September 10, 2015 and May 3, 2017 the defendants failed to disclose that the Company was concealing customer cancelations from investors, that the Company engaged in corrupt sales practices, that, as a result of the foregoing, the Company was exposed to potential civil and criminal liability, and that, as a result of the foregoing, defendants’ statements about Sunrun Inc’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis. Sunrun Inc reported that its annual Total Revenue rose from $304.61 million in 2015 to $453.90 million in 2016 and that its Net Loss of $28.25 million in 2015 turned into a Net Income of $91.69 million in 2016.

On May 3, 2017, it was reported that the U.S. Securities and Exchange Commission is examining whether Sunrun Inc has adequately disclosed how many customers have canceled contracts after signing up for a home solar-energy system.

Shares of Sunrun Inc (NASDAQ: RUN) declined on May 4, 2017 to $4.59 per share.

sunrun_inc_original_filing_edited_5_2017.pdf
Date Settled