Sunedison Confirms SEC Investigation, Reveals New DoJ Subpoena Received This Week

Sunedison Inc SUNE has officially been approached by the SEC, and it has a new DoJ subpoena to boot.

In Thursday's after-hours session, the company confirmed rumors of an SEC inquiry, adding that it's received a subpoena from the U.S. Department of Justice, according to an 8-K filing.

Sunedison received the subpoena from the DoJ seeking information related to five specific points on March 28, the filing said. Those five points are as follows:

• "(i) certain financing activities in connection with the Company's acquisition of Vivint Solar, Inc.,
• (ii) the conduct of a former non-executive employee who is alleged to have committed wrongdoing in connection with the Vivint termination negotiations,
• (iii) the previously disclosed investigations by the Company's audit committee,
• (iv) intercompany transactions involving the Company and each of TerraForm Power Inc. and TerraForm Global Inc. and
• (v) the financing of the Company's Uruguay projects in connection with project costs and equity contributions that remain to be contributed by the Company and the DOJ may have additional requests."

Sunedison also used the filing to disclose it has received a nonpublic, informal inquiry from the SEC. "The Company and the board of directors intend to cooperate with the DOJ’s inquiry and the SEC investigation," the company said.