Solar Company Backed by $3 Billion Biden Loan Hit With Class Action Lawsuit
Sunnova 'made materially false and misleading statements about its operations,' lawsuit says
(@SunnovaEnergy/Twitter)
Alana Goodman
March 14, 2024
A solar company that was approved for a $3 billion loan from the Biden administration last year is facing a class action lawsuit from investors who claim the company withheld troubling information about its business practices.
The lawsuit claims that Sunnova Energy "made materially false and misleading statements about its operations," including its allegedly "predatory business practices against disadvantaged homeowners and communities."
The news could raise new questions for the Department of Energy’s Loan Programs Office and Sunnova. The DOE has been facing scrutiny over the $3 billion loan since November, when the Washington Free Beacon reported on consumer complaints that accused Sunnova of ripping off elderly dementia patients.
https://freebeacon.com/energy/solar-company-backed-by-3-billion-biden-loan-hit-with-class-action-lawsuit/
