BOSTON, July 13, 2022 (GLOBE NEWSWIRE) -- Block & Leviton is investigating Hannon Armstrong Sustainable Capital, Inc. (NYSE: HASI) for potential securities law violations. Investors who have lost money in their Hannon Armstrong Sustainable Infrastructure Capital, Inc. investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://www.blockleviton.com/cases/hasi.
What is this all about?
On July 12, 2022, Muddy Waters Research issued a short report alleging that Hannon Armstrong Sustainable Infrastructure Capital’s “accounting is so complex and misleading that its financial statements are effectively meaningless.”
According to the 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.”
Shares of Hannon Armstrong Sustainable Infrastructure Capital, Inc. stock dropped more than 16% in intraday trading on July 12, 2022.
Who is eligible?
Anyone who purchased Hannon Armstrong Sustainable Infrastructure Capital, Inc. stock and has lost money may be eligible, whether or not they have sold their investment. Investors should contact Block & Leviton to learn more.
What is Block & Leviton doing?
Block & Leviton is investigating whether the Company committed securities law violations and may file an action to attempt to recover losses on behalf of investors who have lost money.
What should you do next?
If you've lost money on your investment, you should contact Block & Leviton to learn more via our case website, by email at cases@blockleviton.com, or by phone at (617) 398-5600.
Why should you contact Block & Leviton?
Many law firms have issued releases about this matter; most of those firms do not actually litigate securities class actions. Block & Leviton is a law firm that actually litigates cases. We are dedicated to obtaining significant recoveries on behalf of defrauded investors through active litigation in the federal courts across the country. Many of the nation's top institutional investors hire us to represent their interests. You can learn more about us at our website, www.blockleviton.com, or call (617) 398-5600 or email cases@blockleviton.com with any questions.
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CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
Email: cases@blockleviton.com
SOURCE: Block & Leviton LLP
www.blockleviton.com
