NEW YORK, May 23, 2017 /PRNewswire/ -- Kaplan Fox &
Kilsheimer LLP (www.kaplanfox.com) is investigating claims
on behalf of investors of Sunrun Inc. ("Sunrun" or the "Company") (NASDAQ: RUN).
Class Action litigation has been filed in the United States District Court for the Northern District of California against Sunrun, as well as the Company's Chief Executive Officer and Chief Financial Officer, on
behalf of investors who purchased or otherwise acquired Sunrun securities between September 10,
2015 and May 2, 2017, inclusive (the "Class"), alleging violations of the Securities
Exchange Act of 1934.
On May 3, 2017, the Wall Street Journal published an article entitled "SEC Probes Solar
Companies Over Disclosure of Customer Cancellations," which reported that the Company was the subject of a probe by the
Securities and Exchange Commission ("SEC"). The Wall Street Journal article reported, among other things, that according to
a person familiar with the investigation, "[t]he SEC recently issued a subpoena to Sunrun and interviewed current and former
employees about the adequacy of its disclosures on account cancellations." Following this news, Sunrun's shares declined in
price by $0.46 per share, or 8.83%, to close at $4.75 per share on
May 3, 2017.
On May 22, 2017, the Wall Street Journal published an article entitled "Solar Company Sunrun Was
Manipulating Sales Data, Say Former Managers," which reported that sales managers were told by Sunrun superiors in 2015 that they
shouldn't process customer cancellations until after the Company's Initial Public Offering ("IPO"). One former manager
allegedly changed current cancellations in the Company's sales system by inputting the date "12/31/2099". Then, according
to the May 3 article in the Wall Street Journal, the former manager subsequently "input the
cancelations into Sunrun's customer-management software after the IPO 'in a slow drip,' so as not to call attention to a rise in
cancelations."
The complaint alleges that throughout the Class Period the defendants made false and/or misleading statements, as well as
failed to disclose that (1) Sunrun failed to adequately disclose how many customers canceled contracts after signing up for the
Company's home-solar energy systems, (2) discovery of the foregoing conduct would subject the Company to heightened regulatory
scrutiny, and (3) as a result, Sunrun's public statements were materially false and misleading at all relevant times.
If you are a member of the proposed Class, you may move the court no later than July 3, 2017 to
serve as a lead plaintiff for the purported class. You need not seek to become a lead plaintiff in order to share in any
possible recovery. If you would like to discuss the complaint or our investigation, please contact us by emailing
pmayer@kaplanfox.com or by calling
800-290-1952.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical
rules.
Kaplan Fox & Kilsheimer LLP, with offices in New York,
San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting
investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit
our website at www.kaplanfox.com. If you have any
questions about this Notice, the action, your rights, or your interests, please contact:
Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(212) 687-1980
Fax: (212) 687-7714
E-mail: dhall@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California 94104
(415) 772-4700
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
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SOURCE Kaplan Fox & Kilsheimer LLP