Posted on 03/29/2016 2:51:35 PM PDT by bananaman22
The U.S. Securities and Exchange Commission is looking into SunEdison to see whether or not the company exaggerated its cash on hand in disclosures last year. The news comes as the solar developer is teetering on the brink of bankruptcy.
The solar company has seen its stock collapse since last year as mounting debt problems have raised concerns about the company’s ability to keep the lights on. SunEdison’s share price is off by 96 percent since last July. That has translated to a decline of the company’s market capitalization from $10 billion last summer to just $400 million today.
SunEdison even delayed the release of a financial statement because unnamed current and former employees had concerns about the accuracy of the figures they were set to submit.
(Excerpt) Read more at oilprice.com ...
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