Today SunEdison filed a form 8-K with the Securities and Exchange Commission (SEC) revealing that it is under investigation by both SEC and the U.S. Department of Justice (DOJ).
The form states that SunEdison received a subpeona from the DOJ on March 28 seeking information on financing activities relating to the acquisition of Vivint Solar, the activities of an un-named non-executive employee who has since left the company, inter-company activities between SunEdison and its two yieldcos, and other matters.
SunEdison says it received a similar inquiry from the SEC, which had already been reported by the Wall Street Journal, and says that it is cooperating with both investigations.
?This is the latest of SunEdisons woes, as rumors of a pending Chapter 11 bankruptcy gain steam in the press. Notably, a week ago DebtWire reported that the company was in debtor-in-possession talks with the holders of $725 million in loans, and today yieldco TerraForm Power announced that that President & CEO Brian Wuebbels has left the company.
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