Appaloosa accepts expedited trial against SunEdison

This afternoon the law firm representing hedge fund manager David Tepper's Appaloosa Management released a statement indicating that their client had accepted the offer of a judge in the U.S. state of Delaware for an expedited trial against SunEdison. The firm of Lowenstein Sandler also clarified that the pending closure of SunEdison's acquisition of Vivint Solar, the latest version of which was approved by Vivint shareholders four days ago, will not stop Tepper's suit. Appaloosa is seeking to both stop a take/pay agreement under which SunEdison will transfer residential solar assets from Vivint to TerraForm Power, as well as monetary damages related to alleged damage to TerraForm. Appaloosa owns a 9.5% stake in TerraForm Power. "The closing of the pending merger with Vivint will not prevent Appaloosa from obtaining relief to protect (TerraForm) and its stockholders from the injurious effects of the take/pay arrangement between (TerraForm) and SunEdison ...

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