Cases
SolarCity Corporation (NASDAQ : SCTY)
Securities Class Action
Overview
Overview
- Date:
- 8/17/2016
- Company Name:
- SolarCity Corporation
- Stock Symbol:
- SCTY
- Class Period:
- FROM 5/5/2015 TO 2/9/2016
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Northern California
NEW YORK, August 17, 2016 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the California Northern District Court on behalf of all persons or entities who acquired SolarCity Corporation (NASDAQ : SCTY) securities between May 5, 2015 to February 9, 2016 (the “Class Period”).
On October 29, 2015, SolarCity announced that it was lowering its full year 2015 guidance. On this news the company’s stock price fell $8.42 per share, or 22%, to close at $29.65 on October 30, 2015. Then, on February 9, 2016 the company disclosed that it fell short of its previously issued fiscal year 2015 installation guidance. On this news, the company’s stock price fell $7.72 per share, or 29%, to close at $18.63 on February 10, 2016, thereby injuring investors.
The complaint charges SolarCity and certain of its officers with violations of the federal securities laws. Specifically, the complaint alleges that defendants made false and/or misleading statements and/or failed to disclose: (1) that demand for the company’s products was weakening; (2) that the company was concealing the weakening demand from investors; and (3) that, as a result of the foregoing, defendants’ statements about SolarCity’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
If you acquired SolarCity Corporation securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
On October 29, 2015, SolarCity announced that it was lowering its full year 2015 guidance. On this news the company’s stock price fell $8.42 per share, or 22%, to close at $29.65 on October 30, 2015. Then, on February 9, 2016 the company disclosed that it fell short of its previously issued fiscal year 2015 installation guidance. On this news, the company’s stock price fell $7.72 per share, or 29%, to close at $18.63 on February 10, 2016, thereby injuring investors.
The complaint charges SolarCity and certain of its officers with violations of the federal securities laws. Specifically, the complaint alleges that defendants made false and/or misleading statements and/or failed to disclose: (1) that demand for the company’s products was weakening; (2) that the company was concealing the weakening demand from investors; and (3) that, as a result of the foregoing, defendants’ statements about SolarCity’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
If you acquired SolarCity Corporation securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.