Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, July 18, 2022 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Hannon Armstrong Sustainable Infrastructure Capital, Inc. (“Hannon Armstrong” or “the Company”) (: HASI) investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. Hannon Armstrong investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: [email protected], to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Hannon Armstrong is the subject of a report issued by Muddy Waters Research on July 12, 2022. The report says the Company’s accounting is “so complex and misleading that its financial statements are effectively meaningless.” According to the research report, “HASI misleadingly inflates GAAP earnings three ways: 1) Through a loophole in the arcana of accounting for renewables subsidies, HASI books non-cash unrealizable income relating to third parties’ tax credits that will be reversed; 2) HASI produces non-cash income by manipulating the discount rate it applies to residual assets to implausibly low levels, thereby inflating its gains on securitizations; and, 3) HASI books interest income from non-cash ‘Paid in Kind’ (“PIK”) interest payments, which are essentially IOUs from stressed borrowers.” Based on this news, shares of Hannon Armstrong dropped by more than 19% on July 12, 2022.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
[email protected]
310-692-8883
www.portnoylaw.com
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