Several law firms have filed class action lawsuits on behalf of anyone who acquired securities in SolarCity Corporation (NASDAQ: SCTY) between March 6, 2013 and March 18, 2014.
SolarCity designs, installs and sells or leases solar energy systems in the United States to government entities and residential and commercial customers. The Company operates in two primary segments: Operating Leases and Solar Energy Systems Sales. The Complaint alleges that throughout the Class Period defendants incorrectly accounted for expenses associated with the Company’s larger Sales segment, and failed to properly allocate such expenses between the Sales and Leasing segments. The Complaint further alleges that the Company was under pressure from investors to demonstrate the strength of its solar energy operations, and improperly allocated expenses between its two reporting segments in order to hide the Sales segment’s ballooning expenses and inflate its reported gross margins.
For more information or to join the class action lawsuit, please visit the websites of the following attorneys: