Tuesday, March 29, 2016

SunEdison Is Being Investigated By The SEC, Stock Is Deer Nuts (SUNE)

Under a buck.

From the St. Louis Business Journal:

SunEdison being investigated by SEC over liquidity disclosures: Report
SunEdison Inc. is being investigated by the Securities and Exchange Commission over disclosures it made to investors about how much cash it had on hand as its stock plummeted last year, sources told the Wall Street Journal.

The regulatory agency's enforcement unit is examining whether the Maryland Heights-based renewable energy developer overstated its liquidity last fall when it reported to investors it had over $1 billion in cash, people familiar with the matter told the publication.

SunEdison's shares, which had fallen about 75 percent at the time of that report, are down 96 percent from a July peak, the Journal reports. The company, whose market value has fallen from nearly $10 billion in July to about $400 million, is working with advisers on a possible bankruptcy filing, sources told the publication....MORE
78 cents, down 38% pre-market.