A lawsuit was filed by a participant of Sunedison Inc (NYSE:SUNE) Retirement Savings Plan concerning over alleged breaches of fiduciary duties and participants of Sunedison Inc Retirement Savings Plan should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/14/2016 -- A participant of the Sunedison Inc Retirement Savings Plan filed a lawsuit over alleged Breaches of Fiduciary Duties.
Those who are current or former participants of Sunedison Inc Retirement Savings Plan and all other similarly situated Plan participants and beneficiaries have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants violated the Employee Retirement Income Security Act of 1974 ("ERISA"). The plaintiff claims that the defendants failed to protect the interests of the Sunedison Inc (NYSE:SUNE) Retirement Savings Plan participants in violations of the defendants' legal obligation under ERISA. The plaintiff alleges that defendants permitted the Sunedison Retirement Savings Plan to continue to offer Sunedison Inc (NYSE:SUNE) stock as an investment option to the Sunedison Retirement Savings Plan participants even after the defendants allegedly knew or should have known that between August 6, 2015 and January 20, 2016, that Sunedison Inc (NYSE:SUNE) was allegedly artificially inflated, that Sunedison Inc was in extremely poor financial condition, and that Sunedison Inc faces equally poor long term prospects, making it an imprudent retirement investment for the Sunedison Retirement Savings Plan.
On December 1, 2015 a lawsuit was filed against Sunedison Inc (NYSE:SUNE) over alleged securities laws violations. The plaintiff alleges on behalf of certain purchasers of Sunedison Inc (NYSE:SUNE) common shares that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims 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.
Those who are current or former participants of Sunedison Inc Retirement Savings Plan and all other similarly situated Plan participants and beneficiaries have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com