SunEdison (SUNE) Plunges on Bankruptcy Fears

SunEdison (NYSE: SUNE) shares dropped 35% pre-market on Tuesday after several negative headlines spooked investors.

In an SEC filing, unit TerraForm Global (NASDAQ: GLBL) stated that "due to SunEdison’s liquidity difficulties, there is a substantial risk that SunEdison will soon seek bankruptcy protection."

TerraForm Global's disclosure followed a Wall Street Journal report yesterday evening that said SunEdison is being investigated by the SEC for overstating its cash position last fall. The report also said SunEdison is working with advisers on a potential bankruptcy filing, according to people familiar with the matter.

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