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Bernstein Liebhard LLP Announces That It Is Investigating TerraForm Power Inc. And Its Controlling Shareholder SunEdison, Inc. And That A Class Action Against TerraForm Power Has Been Filed

NEW YORK, April 5, 2016 /PRNewswire/ -- Bernstein Liebhard LLP announced that a class action has been filed in the United States District Court for the District of Maryland on behalf of a class (the "Class") consisting of all persons or entities who purchased the securities of TerraForm Power Inc. ("TerraForm" or the "Company") TERP, -0.99% between May 7, 2015 and March 15, 2016, inclusive.

TerraForm owns and operates solar and wind generation assets serving utility, commercial, and residential customers. TerraForm's controlling shareholder is SunEdison, Inc. ("SunEdison"). The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (i) TerraForm's Management Services Agreement with SunEdison exposed TerraForm to risks associated with SunEdison's internal financial controls and any deficiencies therein; (ii) consequently, TerraForm lacked effective internal financial controls; and (iii) as a result of the foregoing, TerraForm's public statements were materially false and misleading at all relevant times.

On February 29, 2016, SunEdison announced that it was delaying the filing of its fiscal year 2015 Form 10-K with the SEC, citing, among other things, ongoing inquiries and investigations by its Audit...