TerraForm Global, Inc. owns and operates clean power generation assets in the United States and Western Europe, including wind, geothermal, hydroelectric, and hybrid energy.

According to the law firm press release, the Complaint alleges that Defendants failed to disclose a number of problems seriously undermining TerraForm Global’s business and prospects. Specifically, unbeknownst to investors, the Registration Statement’s representations were materially untrue, inaccurate, misleading, and/or incomplete because they failed to disclose, inter alia, that, by the time of the July 31, 2015 IPO: (i) SunEdison was experiencing unprecedented losses that would be revealed mere days after TerraForm Global’s IPO was finalized; (ii) SunEdison was experiencing severe liquidity and debt issues that ended its ability to develop projects to sell to TerraForm Global, meaning that the Company’s “YieldCo” business model was effectively moribund from the outset; and (iii) the aggressive growth plans for SunEdison and TerraForm Global were unachievable.

On December 22, 2016, the Court issued an Order appointing Lead Plaintiff and Counsel.

On December 15, 2017, the parties entered into an Agreement of Settlement. The Settlement was preliminarily approved on December 20. On September 27, 2019, the parties filed a Settlement Modification Agreement, lowering the amount of the Settlement. On February 25, 2020, the Court granted final approval of the Settlement and entered Final Judgment. The Settlement is also recorded on Docket 16-MD-02742 under the SunEdison, Inc., Securities Litigation.