GPM Reminds Investors of the July 5 Deadline in the Class Action Lawsuit Against Sunrun Inc.
Investors with over $100,000 in losses are encouraged to contact Lesley Portnoy, Esquire to discuss their legal
rights.
Glancy Prongay & Murray LLP (“GPM”) reminds investors of the July 5, 2016 deadline to file a lead
plaintiff motion in the class action filed on behalf of a class (the “Class”) of investors who purchased Sunrun Inc. (“Sunrun” or
the “Company”) (NASDAQ: RUN) securities pursuant and/or traceable to Sunrun’s August 5, 2015 Initial Public Offering (the “IPO”). Sunrun
investors have until July 5, 2016 to file a lead plaintiff motion.
Sunrun engages in the design, development, installation sale, ownership, and maintenance of residential solar energy systems in
the United States. Unbeknownst to investors the Company relied on complex debt arrangements to fund its growth, and could not
sustain the revenues and profitability projected to investors during the IPO process. From an opening price of $14 per share, the
stock has fallen as low as $4.96 per share, amid market reaction to the Company’s exposure to complex debt instruments.
According to the lawsuit, the offering documents filed in connection with the IPO contained materially false and misleading
statements and omissions, including that: (1) Sunrun understated its actual historical operating costs by not identifying and
disclosing the fixed grid costs being borne for it by public utilities where net metering programs were being employed; (2) Sunrun
had been charging well above wholesale rates for the electricity it was selling to its net metering customers; (3) contrary to
having listed customers dispersed across 15 states and the District of Columbia in its Registration Statement, Sunrun had a
substantial 20% customer concentration in Nevada alone; (4) Sunrun’s ability to continue convincing customers to sign 20-year
contracts was in jeopardy due to the ongoing regulatory review of net metering programs; (5) Sunrun was overstating its value by
employing an unreasonably low discount rate of 6% in calculating the value of it retained assets; and (6) as a result, Sunrun’s
business and financial prospects were not what defendants had led the market to believe they were at the time of the IPO. When the
true details entered the market, the lawsuit claims that investors suffered damages.
If you purchased Sunrun shares pursuant and/or traceable to the IPO, you may move the Court no later than July 5,
2016 to request appointment as lead plaintiff. To be a member of the class you need not take any action at this time; you
may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn
more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to
these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at
310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and
number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Glancy Prongay & Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
shareholders@glancylaw.com
www.glancylaw.com
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