SunEdison just disclosed that the Feds want more information about the deal that ruined everything


SunEdison received a subpoena from the Department of Justice on Monday.

In a regulatory filing Thursday, SunEdison disclosed that the DOJ is requesting documents related to its acquisition of Vivint Solar, and how it financed projects in Uruguay, among others.

Vivint terminated its deal with SunEdison earlier in March, and argued that the company was unable to fulfil its obligations.

SunEdison also said it got an informal inquiry from the Securities and Exchange Commission “covering similar areas.”

“The Company and the board of directors intend to cooperate with the DOJ’s inquiry and the SEC investigation,” it said.

Shares were little changed in after-hours trading. They have plunged 55% over the past five days, and closed at $0.5402 on Thursday.

Here’s the full regulatory filing:

On March 28, 2016, SunEdison, Inc. (the “Company”) received a subpoena from the U.S. Department of Justice (the “DOJ”) seeking information and documentation relating to: (i) certain financing activities in connection with the Company’s acquisition of Vivint Solar, Inc., (ii) the conduct of a former non-executive employee who is alleged to have committed wrongdoing in connection with the Vivint termination negotiations, (iii) the previously disclosed investigations by the Company’s audit committee, (iv) intercompany transactions involving the Company and each of TerraForm Power Inc. and TerraForm Global Inc. and (v) the financing of the Company’s Uruguay projects in connection with project costs and equity contributions that remain to be contributed by the Company and the DOJ may have additional requests. Also, the Company has received a nonpublic, informal inquiry from Securities and Exchange Commission (the “SEC”) covering similar areas.

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