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

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Company Name(s): 
Sunrun
Case Name: 
Sunrun Shareholder Class Action Lawsuit 05/03/2017
Case Status: 
Lawsuit Filed
Case Status: 
Settlement Proposed
Case Status: 
Settlement Approved
Affected Securities
NASDAQ: RUN
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
05/03/2017
Class Period Begin: 
09/16/2015
Class Period End: 
05/21/2017
Court of Filing: 
U.S. District Court for the Northern District of California
Deadline To File for Lead: 
07/03/2017
Date Settled: 
11/20/2018
Settlement Amount: 
$2,500,000
Deadline to Participate in Settlement: 
03/04/2019
Settlement Notice: 
Settlement Proof: 
Summary: 

March 04, 2019 - Final Approval Order and Final Judgment.

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

September 27, 2018 - Parties filed a stipulation of settlement.

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

May 31, 2018 - Defendants filed a motion to dismiss.

May 3, 2018 - The lead plaintiffs filed a second amended consolidated complaint.

November 9, 2017 - Defendants filed a motion to dismiss.

September 25, 2018 - The lead plaintiffs filed an amended complaint on behalf of investors who purchased Sunrun Inc (NASDAQ: RUN) common shares between September 16, 2015 and May 21, 2017. The lead plaintiffs allege that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between September 16, 2015 and May 21, 2017.

August 23, 2018 - Lead plaintiffs and lead counsel were appointed and all cases were consolidated.

July 3, 2018 - Lead plaintiff motions were filed.

June 7, 2018 - Cases were consolidated.

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.

May 3 - An 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 16, 2015 and May 2, 2017.