Abraham, Fruchter & Twersky, LLP Files Securities Class Action Lawsuit Against TerraForm Global, Inc.

Abraham, Fruchter & Twersky, LLP has filed a class action lawsuit in the United States District Court for the Northern District of California against TerraForm Global, Inc. (“TerraForm”) (NASDAQ:GLBL), certain of its officers, its parent company, and the underwriters involved in its Initial Public Offering (“IPO”). The class action is filed on behalf of all those who purchased TerraForm securities pursuant or traceable to the Company’s IPO on July 31, 2015. It seeks to recover damages against the defendants for violations of the federal securities laws.

TerraForm owns and operates contracted “clean power” generation assets in emerging market countries. It was structured to obtain the bulk of these assets from its parent company and sponsor, SunEdison, Inc. ("SunEdison"). SunEdison was to provide a continuous pipeline of new clean energy assets for acquisition by TerraForm. The Complaint alleges that in connection with the IPO, the defendants made materially false and misleading statements regarding the financial health of SunEdison and the viability of TerraForm’s business strategy. Specifically, the Registration Statement failed to disclose that by the time of the July 31, 2015 IPO, SunEdison was experiencing severe liquidity issues that rendered it unable to provide the needed pipeline of new projects to TerraForm, and, as a result, TerraForm’s business objectives were unachievable. Once these facts were disclosed to the market, the price of the TerraForm’s stock dropped precipitously. The stock is currently trading at approximately 50% below its IPO price.

If you are a shareholder who purchased TerraForm securities in connection with the IPO, you have until December 28, 2015 to ask the Court to appoint you as Lead Plaintiff for the class. To discuss this action, please contact jfruchter@aftlaw.com or cporsch@aftlaw.com or call toll free (800) 440-8986. If inquiring by e-mail, please include your mailing address, telephone number, and number of shares purchased.

Abraham, Fruchter & Twersky, LLP, which is based in New York and has an office in California, has extensive experience in shareholder and securities class action cases. The firm has been ranked among the leading class action law firms in terms of recoveries achieved in a recent survey of class action law firms conducted by Institutional Shareholder Services.

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