Gainey McKenna & Egleston Announces a Class Action Lawsuit Has Been Filed Against TerraForm Global, Inc. (GLBL)


NEW YORK, Oct. 30, 2015 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston 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 who purchased or otherwise acquired the common stock of TerraForm Global, Inc. (“TerraForm Global”) (Nasdaq:GLBL) pursuant and/or traceable to the Registration Statement and Prospectus issued in connection with TerraForm Global’s July 31, 2015 initial public stock offering (the “IPO”).  TerraForm Global operates as an indirect emerging markets subsidiary of SunEdison, Inc. (“SunEdison”).

The Complaint alleges that Defendants failed to disclose material information in its Registration Statement, including failure to disclose that by the time of the IPO: (a) the IPO sponsor SunEdison was experiencing unprecedented losses that would be revealed just days after the finalization of the IPO; (b) SunEdison was experiencing liquidity and debt issues that ended its ability to develop projects to sell to TerraForm Global, thus the Company’s “Yield Co” business model was effectively moribund from the outset; and (c) the aggressive growth plans for SunEdison and TerraForm Global were unachievable.

If you wish to serve as lead plaintiff, you must move the Court no later than December 28, 2015.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  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.

This may be considered attorney advertising in some jurisdictions and prior results do not guarantee a similar outcome with respect to any future matter. 

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