According to the lawsuit, defendants failed to warn to investors that:
- XPLR was struggling to maintain its operations as a yieldco (i.e., a business that owns and operates fully-built and operational power generating projects, focused on delivering large cash distributions to investors);
- defendants temporarily relieved this issue by entering into certain financing arrangements while downplaying the attendant risks;
- XPLR could not resolve those financings before their maturity date without risking significant unitholder dilution;
- as a result, defendants planned to halt cash distributions to investors and instead redirect those funds to, inter alia, resolve those financings;
- as a result of all the foregoing, XPLR’s yieldco business model and distribution growth rate was unsustainable; and
- as a result, defendants’ public statements were materially false and misleading at all relevant times.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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