Appaloosa Sues Sunedison Over $2.2 Billion Solar-Power Deal

Appaloosa Management LP, a hedge fund run by billionaire David Tepper, sued SunEdison Inc. over a deal involving the purchase of a rooftop solar-power provider Tepper says is unfair to investors.

SunEdison’s plan to buy residential solar-panel provider Vivint Solar for $2.2 billion and then force its TerraForm Power unit to load up with debt to buy more than $900 million in Vivint’s assets isn’t in TerraForm shareholders’ interests, Tepper contends in a Delaware Chancery Court lawsuit.

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