Deals
SunEdison Receives U.S. Subpoena on Vivint Deal Gone Wrong
- U.S. Justice Department seeks information on terminated deal
- SunEdison's purchase of Vivint fell through earlier this month
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March was not a good month for SunEdison Inc.
The company disclosed Thursday it had received a subpoena from the U.S. Department of Justice and a similar inquiry from the U.S. Securities and Exchange Commission, after its $1.9 billion deal to buy Vivint Solar Inc. fell apart earlier in the month. It was also sued by Vivint. On Tuesday, a filing revealed the company was on the verge of bankruptcy. And its stock plunged 73 percent, the most-ever in a single month.