Former United States Securities and Exchange Commission attorney Willie
Briscoe, founder of The
Briscoe Law Firm, PLLC, and the securities litigation firm of Powers
Taylor LLP announce that a class action lawsuit has been filed
against SolarCity Corporation (“SolarCity” or “Company”) (NasdaqGS:
SCTY) and several officers and directors for acts taken during the
period of March 6, 2013 to March 18, 2014 (the “Class Period”).
Based upon the allegations in the class action, the firms are
investigating additional legal claims against the officers and Board of
Directors of SolarCity. If you are an affected SolarCity shareholder and
want to learn more about the lawsuit or join the action, contact Willie
Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com,
or Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, or via
e-mail at shareholder@powerstaylor.com.
There is no cost or fee to you.
In the complaint, the defendants are alleged to have violated certain
provisions of the Securities Exchange Act of 1934. Specifically, the
complaint alleges, among other things, that defendants’ misrepresented
and/or failed to disclose that: the Company misclassified its reported
expenses, lacked adequate controls over financial reporting and its
prior financial statements required restatement. Due to the above,
SolarCity’s financial statements were materially false and misleading at
all relevant times. According to the complaint, when the truth came out,
SolarCity’s shares dropped.
The
Briscoe Law Firm, PLLC is a full service business litigation,
commercial transaction, and public advocacy firm with more than 20 years
of experience in complex litigation and transactional matters.
Powers
Taylor LLP is a boutique litigation law firm that handles a variety
of complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits,
and security class actions.
Copyright Business Wire 2014