SunEdison has confirmed that the US justice department has launched an investigation into its cancelled $1.9bn acquisition of Vivint Solar.
The US renewables giant said it has received a subpoena from justice officials seeking information and documentation on the deal which was scrapped last month.
In a Securities and Exchange Commission (SEC) filing, SunEdison also said the justice department was looking into the “conduct of a former non-executive employee who is alleged to have committed wrongdoing” in connection with the Vivint deal.
Justice officials are also examining investigations carried out by the company’s audit committee and “intercompany transactions” involving TerraForm Power.
In addition, the financing of projects in Uruguay are also under investigation. SunEdison said the SEC is also investigating the matters.
“The Company and the board of directors intend to cooperate with the DOJ’s inquiry and the SEC investigation,” it said.
SunEdison shares traded at $0.49 on Friday, down from a 12-month high of over $32 in June last year.
Image: Regulus solar plant in California (SunEdison)
