TerraForm Global Inc (NASDAQ:GLBL) Investor Investigation Concerning Potential Securities Laws Violations Announced

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Company Name(s): 
TerraForm Global
Affected Securities: 

September 24, 2015 (Shareholders Foundation) - An investigation on behalf of investors of TerraForm Global Inc (NASDAQ:GLBL) shares over potential securities laws violations by TerraForm Global and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of TerraForm Global Inc (NASDAQ:GLBL) concerning whether a series of statements by TerraForm Global regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

On July 31, 2014, TerraForm Global Inc held its Initial Public Offering (“IPO”), offering 45 million shares at $15 per share. SunEdison sponsored TerraForm Global Inc’s IPO. On August 4, 2015, TerraForm Global Inc completed its IPO.

TerraForm Global Inc reported that its annual Total Revenue rose from $22.20 million in 2013 to $39.45 million while its Net Loss increased from $2.28 million in 2013 to $5.04 million in 2014.

On August 6, 2015, SunEdison reported a second-quarter loss of $256 million, wider than its $51 million loss during the same period last year. In addition, SunEdison’s Selling, General, & Administrative (“SG&A”) expenses increased to $259 million (57% of sales) in 2Q15 from $108 million (25.0% of sales) in 2Q14.

Shares of TerraForm Global Inc (NASDAQ:GLBL) declined to as low as $7.57 per share on September 24, 2015.