SolarCity Corporation (Nasdaq: SCTY)
A class action has been filed in the United States District Court for the Northern District of California on behalf of purchasers of SolarCity Corporation (“SolarCity” or the “Company”) (SCTY) securities during the period between March 6, 2013 and March 18, 2014, inclusive (the “Class Period”).
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that the Company misclassified its reported expenses. According to the complaint, following the Company’s March 3, 2014 announcement disclosing tens of millions in overhead expenses that it had incorrectly classified and its March 18, 2014 disclosure that its prior financial statements for the annual periods ended December 31, 2010, 2011 and 2012 should no longer be relied upon, the value of SolarCity shares declined significantly.
If you are a current shareholder and/or purchased stock between March 6, 2013 and March 18, 2014 and would like to discuss your options of exercising your rights as a shareholder, please contact us.
Please submit the following information so we can determine if you qualify for the suit. If you don't know all the specific details, partial information is also acceptable.