Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Instagram Outage Disrupts Thousands of U.S. Users 
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
Ford and Geely Explore Strategic Manufacturing Partnership in Europe 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
 - EconoTimes)
NEW YORK, April 08, 2016 -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against TerraForm Power, Inc. (“TerraForm” or the “Company”) (Nasdaq:TERP) in the United States District Court for the District of Maryland on behalf of a class consisting of all persons or entities who purchased TerraForm securities between May 7, 2015 and March 15, 2016, inclusive (the “Class Period”). This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the “Exchange Act”).
According to the Complaint, on February 29, 2016, TerraForm announced that it was delaying the filing of its fiscal year 2015 Form 10-K with the SEC and also expected to file the Form 10-K by March 15, 2016. TerraForm cited only “the need to complete all steps and tasks necessary to finalize the Company’s annual financial statements and other disclosures required to be in the filing.” On that same day, SunEdison, Inc. (“SunEdison”), TerraForm’s controlling shareholder, also filed a Form 12b-25, Notification of Late Filing, regarding the delayed filing of SunEdison’s Annual Report on Form 10-K for the year ended December 31, 2015.
On March 16, 2016, SunEdison announced a further delay in the filing of its Form 10-K beyond the extended due date of March 15, 2016, after “the identification by management of material weaknesses in its internal controls over financial reporting.”
On March 16, 2016, TerraForm also announced a further delay in the filing of its Form 10-K beyond the extended due date of March 15, 2016, after identifying material weaknesses in its internal controls over financial reporting.
On this news, shares of TerraForm dropped over 7%, closing at $9.72 per share on March 16, 2016, on heavy trading volume.
If you wish to serve as lead plaintiff, you must move the Court no later than June 3, 2016. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].
Please visit our website at http://www.gme-law.com for more information about the firm.
