It is hard to get into more trouble than falling from the worlds largest clean energy developer to a bankrupt company selling off assets and business lines under the control of a professional restructuring agent, while fending off large numbers of lawsuits.
However, SunEdison has done just that, revealing last night in an 8-K that it has received a formal demand for information from the U.S. Securities and Exchange Commission (SEC).
Specifically, SEC is seeking production of certain emails and other electronic communications sent or received by certain current and/or former directors and/or officers of SunEdison and its two yieldcos, TerraForm Power and TerraForm Global.
This follows what SunEdison describes as an informal SEC inquiry in March. SunEdison further notes that it has received supoenas from the U.S. Department of Justice (DOJ), but it is unclear whether SunEdison is referring to new subpoenas or the ones that it received on March 28.
The brief filing by SunEdison indicates that the company and its board continue to cooperate fully with both DOJ and SEC.