One-time star in solar energy, SunEdison seeks protection
NEW YORK (AP) — SunEdison, a one-time star in the alternative energy field, filed for bankruptcy protection Thursday after years of rapid-fire acquisitions left the solar company in a desperate cash situation.
Last month, SunEdison warned investors that the Justice Department had opened an investigation into its activities and that it had also received an inquiry from the Securities and Exchange Commission.
The company secured commitments for new capital totaling up to $300 million in debtor-in-possession financing to continue business operations.