Le Lézard
Subject: LAW

Robbins Geller Rudman & Dowd LLP and Cotchett, Pitre & McCarthy, LLP Announce the Proposed Settlement in the Sunrun Shareholder Litigation


SAN FRANCISCO, Oct. 12, 2018 /PRNewswire/ -- The following statement is being issued by Robbins Geller Rudman & Dowd LLP and Cotchett, Pitre & McCarthy, LLP regarding the In re Sunrun Inc. Shareholder Litigation.

SUPERIOR COURT OF THE STATE OF CALIFORNIA

COUNTY OF SAN MATEO

 

In re SUNRUN INC. SHAREHOLDER LITIGATION

 

Lead Case No. CIV538215

 

CLASS ACTION

 

Assigned to: Hon. Marie S. Weiner

 

SUMMARY NOTICE OF PROPOSED SETTLEMENT OF CLASS ACTION


This Document Relates To: ALL ACTIONS.

 

 

TO: ALL PERSONS THAT PURCHASED OR OTHERWISE ACQUIRED SUNRUN INC. ("SUNRUN" OR THE "COMPANY") COMMON STOCK BEFORE FEBRUARY 1, 2016 PURSUANT OR TRACEABLE TO THE COMPANY'S REGISTRATION STATEMENT AND PROSPECTUS ISSUED IN CONNECTION WITH SUNRUN'S AUGUST 5, 2015 INITIAL PUBLIC OFFERING ("IPO") ("CLASS" OR "CLASS MEMBERS")

THIS NOTICE WAS AUTHORIZED BY THE COURT.  IT IS NOT A LAWYER SOLICITATION.  PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY.

YOU ARE HEREBY NOTIFIED that a hearing will be held on December 14, 2018, at 11:00 a.m., before the Honorable Marie S. Weiner at the Superior Court of California, County of San Mateo, Department 2, Courtroom 2E, 400 County Center, Redwood City, CA 94063, to determine whether: (1) the proposed settlement (the "Settlement") of the above-captioned action as set forth in the Stipulation of Settlement ("Stipulation")1 for $32,000,000 in cash should be approved by the Court as fair, reasonable and adequate; (2) the Final Judgment as provided under the Stipulation should be entered; (3) to award Plaintiffs' Counsel attorneys' fees and expenses out of the Settlement Fund (as defined in the Notice of Proposed Settlement of Class Action ("Notice"), which is discussed below); (4) to pay Plaintiffs for the time and expenses they incurred in representing the Class out of the Settlement Fund; and (5) the Plan of Allocation should be approved by the Court as fair, reasonable and adequate.

This Action is a consolidated securities class action brought on behalf of those Persons who purchased or acquired the common stock of Sunrun pursuant or traceable to the Registration Statement and Prospectus for Sunrun's IPO, against Sunrun, certain of its key executives, directors and underwriters of Sunrun's IPO, and Sunrun's venture capital partners (collectively, "Defendants") for, among other things, allegedly misstating and omitting material facts from the Registration Statement filed with the U.S. Securities and Exchange Commission in connection with the IPO.  Plaintiffs allege that these purportedly false and misleading statements inflated the price of the Company's stock, resulting in damage to Class Members when the truth was revealed.  Defendants deny all of Plaintiffs' allegations.

IF YOU PURCHASED OR ACQUIRED SUNRUN COMMON STOCK BETWEEN AUGUST 5, 2015 THROUGH AND INCLUDING JANUARY 31, 2016, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS ACTION.

To share in the distribution of the Settlement Fund, you must establish your rights by submitting a Proof of Claim and Release form ("Proof of Claim") by mail (postmarked no later than January 3, 2019) or electronically (no later than January 3, 2019).  Your failure to submit your Proof of Claim by January 3, 2019, will subject your claim to rejection and preclude your receiving any of the recovery in connection with the Settlement of this Action.  If you are a member of the Class and do not request exclusion therefrom, you will be bound by the Settlement and any judgment and release entered in the Action, including, but not limited to, the Final Judgment, whether or not you submit a Proof of Claim.

If you have not received a copy of the Notice, which more completely describes the Settlement and your rights thereunder (including your right to object to the Settlement), and a Proof of Claim form, you may obtain these documents, as well as a copy of the Stipulation (which, among other things, contains definitions for the defined terms used in this Summary Notice) and other settlement documents, online at www.SunrunSecuritiesLitigation.com, or by writing to:

Sunrun Shareholder Litigation Settlement
c/o GCG
P.O. Box 10559
Dublin, OH 43017-4521

Inquiries should NOT be directed to Defendants, the Court, or the Clerk of the Court.

Inquiries, other than requests for the Notice or for a Proof of Claim form, may be made to Plaintiffs' Counsel:

ROBBINS GELLER RUDMAN & DOWD LLP
Ellen Gusikoff Stewart
655 West Broadway, Suite 1900
San Diego, CA 92101
Telephone: 800-449-4900

COTCHETT, PITRE & McCARTHY, LLP
Mark C. Molumphy
840 Malcolm Road, Suite 200
Burlingame, CA 94010
Telephone: 650-697-6000

IF YOU DESIRE TO BE EXCLUDED FROM THE CLASS, YOU MUST SUBMIT A REQUEST FOR EXCLUSION SUCH THAT IT IS POSTMARKED BY DECEMBER 4, 2018, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE.  ALL MEMBERS OF THE CLASS WHO HAVE NOT REQUESTED EXCLUSION FROM THE CLASS WILL BE BOUND BY THE SETTLEMENT EVEN IF THEY DO NOT SUBMIT A TIMELY PROOF OF CLAIM.  IF YOU PREVIOUSLY REQUESTED EXCLUSION FROM THE CLASS YOU DO NOT NEED TO DO SO AGAIN.

IF YOU ARE A CLASS MEMBER, YOU HAVE THE RIGHT TO OBJECT TO THE SETTLEMENT, THE PLAN OF ALLOCATION, THE REQUEST BY PLAINTIFFS' COUNSEL FOR AN AWARD OF ATTORNEYS' FEES AND EXPENSES, AND/OR THE PAYMENT TO PLAINTIFFS FOR THEIR TIME AND EXPENSES.  ANY OBJECTIONS MUST BE FILED WITH THE COURT AND SENT TO PLAINTIFFS' COUNSEL BY DECEMBER 4, 2018, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE.

DATED: September 14, 2018    

BY ORDER OF THE SUPERIOR COURT OF CALIFORNIA, COUNTY OF SAN MATEO
HONORABLE MARIE S. WEINER

1 The Stipulation can be viewed and/or obtained at www.SunrunSecuritiesLitigation.com.

 

 

SOURCE Robbins Geller Rudman & Dowd LLP and Cotchett, Pitre & McCarthy, LLP



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