SunEdison Stock Closed Today at $2.04

SunEdison, the company that Georgetown has contracted with for 50% of Georgetown's electricity needs starting next year continues to struggle financially.

A New York judge Thursday issued a temporary restraining order barring troubled solar developer SunEdison Inc. from making any unusual moves with its assets pending a showdown with unhappy investors in a Latin America venture. This is the result of a failed acquisition of a South American company.  This temporary restraining order is in effect through February 25.

Another lawsuit has been filed against SunEdison, this time the plaintiffs are employees alleging the company kept SunEdison stock in its 401(k) plan even though company officials knew it was performing poorly.

The suit, filed Tuesday in federal court follows the same storyline as previous lawsuits filed against SunEdison: that the company’s executives continued to retain SunEdison stock in its retirement plan even though they knew it was overinflated and the company’s business model was “built on a house of cards.”

At a stock price of $2.04, the company value or market cap is $646M while company debt is approximately $11.5 Billion.