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SunEdison Redid Boards in ‘Friday Night Massacre,’ Suit Says

  • Company faced $100 million payment deadline in November
  • ‘Misleading’ presentation didn’t disclose loan, yieldco claims
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As SunEdison Inc. navigates through bankruptcy, an 11-day period in November continues to haunt the world’s largest renewable-energy company.

Over that period, the company misrepresented its financial health, withheld details about an imminent margin-loan deadline and ousted several independent directors at the two publicly traded yieldcos it founded and controls, as it sought funds to make the looming payment, according to lawsuits filed against SunEdison prior to its bankruptcy.