SunEdison, Inc. is an American renewable energy company that primarily operates solar power and wind energy plants.

According to the law firm press release, the lawsuit alleges that SunEdison and certain corporate insiders made materially misleading misrepresentations and omissions regarding SunEdison's business and operations. Among other things, the lawsuit alleges that Defendants misrepresented and failed to disclose that SunEdison did not have the financial resources to sustain its acquisition binge. On October 5, 2015, the truth about the Company's financial soundness was revealed when the Company announced it was laying off 15% of its workforce. SunEdison's stock dropped to $8.69, from a high of $30.96 at the start of the Class Period on June 16, 2015 – a 72% drop.

On October 6, 2016, this action was transferred to the Southern District of New York to be consolidated as a multi-district action under 16-md-02742.

A consolidated and amended Complaint was filed on January 16, 2017.

On September 1, 2017, a Stipulation of Settlement was filed in the associated case docketed under 1:16-cv-08039-PKC. Preliminary approval was granted on September 14. On January 31, 2018, the Court granted final approval of the settlement and entered Final Judgment.

On September 8, 2017, a Stipulation of Settlement was filed in the associated case docketed under 16-CV-07962. Preliminary approval was granted on September 14. On January 31, 2018, the Court granted final approval of the settlement and entered Final Judgment. On August 3, the Court issued an Order granting the unopposed motion for Distribution of Settlement funds.

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.

On January 7, 2019, the Court issued an Order certifying the Class. On February 11, the Court issued an Order certifying the Class and approving the Notice of Pendency of Class Action.

On February 28, 2019, the parties of the cases docketed under 16-CV-08006, 16-CV-08032, and 16-CV-08204 dismissed those actions with prejudice.

On July 11, 2019, the parties entered into a Stipulation and Agreement of Settlement. The Court granted preliminary approval of the Settlement on July 16. On October 25, the Court granted final approval of the Settlement and entered Final Judgment. The Court issued an Order authorizing distribution of the net Settlement Fund on July 1, 2020.