SunEdison Was Out Of Cash Before Stock Offering, Court Told
Law360 (January 31, 2020, 6:09 PM EST) -- Two investment firms asked a New York bankruptcy court to preserve their claims that SunEdison Inc. duped them into $200 million in bad investments, saying discovery has shown the company was effectively insolvent when it made the stock offering.
KKR Credit Advisors LLC and Canyon Capital Advisors LLC Thursday asked the court to reject a motion to dismiss their claims, saying contrary to arguments by company underwriters and directors discovery since their initial complaint has only strengthened their case by turning up more financial weaknesses SunEdison failed to disclose ahead of the 2015 offering they bought into.
"For example, discovery revealed...
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