"Scott+Scott, Attorneys at Law, LLP (“Scott+Scott”), a national shareholder and consumer rights litigation firm, announces the commencement of an investigation into SunEdison, Inc. (SUNE) (“SunEdison”) related to potential violations of federal securities laws." Link
Sun Edison stock closed at $4.54/share today, down from $33.45 last summer. The market capitalization is only $1.4B and the debt is $11.7B. These are not numbers that inspire confidence.
So in addition to financial stress, Sun Edison is under investigation for potential violation of federal security laws. What are the implications for Georgetown's contract for delivery of solar generated electricity? Is the city watching this event and do they have contingency plans in the event Sun Edison cannot deliver the promised electricity? Inquiring minds want to know!
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