Welcome to the SunEdison Securities Litigation Website.
The information contained on this web page is only a summary of information presented in more detail in the Notice of (I) Proposed Settlement and Plan of Allocation; (II) Settlement Hearing; and (III) Motion For Attorneys’ Fees And Litigation Expenses (the “Settlement Notice”). Because this website is just a summary, you should review the Settlement Notice for additional details.
The Court-appointed Lead Plaintiff Municipal Employees’ Retirement System of Michigan (“MERS”) and Named Plaintiff Arkansas Teacher Retirement System (“ATRS,” and together with MERS, “Plaintiffs”), on behalf of themselves and the Class, reached a settlement of this action, captioned In re: SunEdison, Inc. Securities Litigation, Civil Action No. 1:16-md-2742-PKC (S.D.N.Y) (the “Action”), for a cash payment of $74 million with a potential additional supplemental payment of up to $2 million (the “Settlement”).
Following a hearing on October 25, 2019, the Court entered the Judgment finally approving the Settlement and resolving all claims in the Action. The Court also entered separate Orders approving the Plan of Allocation for the proceeds of the Settlement and awarding Plaintiffs’ Counsel attorneys’ fees and expenses.
If you are a member of the Class, your rights will be affected and you may be eligible for a payment from the proceeds of the Settlement. The “Class” certified by the Court consists of two subclasses:
(1) all persons and entities who purchased or otherwise acquired shares of SunEdison common stock between September 2, 2015 and April 4, 2016, and were damaged thereby (the “Exchange Act Subclass”); and
(2) all persons and entities who purchased or otherwise acquired shares of SunEdison preferred stock between August 18, 2015 and November 9, 2015, inclusive, pursuant or traceable to the registered public offering on or about August 18, 2015, and were damaged thereby (the “Securities Act Subclass,” and together with the Exchange Act Subclass, the “Class”).
Certain persons are excluded from the Class by definition as set forth in paragraph 31 of the Settlement Notice. Other persons are excluded from the Exchange Act Subclass and/or Securities Act Subclass by requests made in connection with the Class Notice, which was mailed to Class members beginning in April 2019. Persons excluded pursuant to request are set forth on Appendix 1 and Appendix 2 to the Stipulation and Agreement of Settlement.
Please read the Settlement Notice to fully understand your rights and options. Copies of the Settlement Notice and Claim Form can be found in the menu at the top of this page.
If you are a member of the Class, in order to be potentially eligible to receive a payment from the Settlement, you must submit a Claim Form postmarked no later than November 27, 2019.
Payments to eligible claimants will be made only after the completion of all claims processing. Please be patient, as this process will take some time to complete.