Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor LLP announce that a class action lawsuit has been filed against SolarCity Corporation (“SolarCity” or “Company”) (NasdaqGS: SCTY) and several officers and directors for acts taken during the period of March 6, 2013 to March 18, 2014 (the “Class Period”).
Based upon the allegations in the class action, the firms are investigating additional legal claims against the officers and Board of Directors of SolarCity. If you are an affected SolarCity shareholder and want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, or via e-mail at firstname.lastname@example.org. There is no cost or fee to you.
In the complaint, the defendants are alleged to have violated certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges, among other things, that defendants’ misrepresented and/or failed to disclose that: the Company misclassified its reported expenses, lacked adequate controls over financial reporting and its prior financial statements required restatement. Due to the above, SolarCity’s financial statements were materially false and misleading at all relevant times. According to the complaint, when the truth came out, SolarCity’s shares dropped.
The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.