The U.S. Department of Justice has subpoenaed seekinginformation related to financing activities for the acquisition of and the"conduct of a former non-executive employee who is alleged to havecommitted wrongdoing in connection with the Vivint negotiations," thecompany said in a March 31 filing.

SunEdison also confirmed that the SEC is investigating thecompany over similar reasons and that it intends to cooperate with federalauthorities.

SunEdison's intercompany transactions with its yieldcovehicles TerraForm PowerInc. and TerraFormGlobal, Inc. are also under scrutiny just days after the company'sshares sank to 52-weeklows over bankruptcy concerns. The DOJ also plans to investigatethe company's financing for its Uruguay projects which remain to be contributed.

Concurrently, Appaloosa LP has upped its stake in TerraForm Power to10.88% via its affiliates, ownership filings show. The hedge fund controlled bybillionaire David Tepper owned 9.5% of the yieldco's class A shares at Jan. 1. Appaloosais seeking "numerous corporate governance reforms," including theremoval of certain committee members to be replaced by members elected byTerraForm Power stockholders.

The TerraForm companies on March 30 said Brian Wuebbelsresigned aspresident, CEO and board director of TerraForm Power and TerraForm Global.Peter Blackmore, an independent director and chairman of TerraForm Power andTerraform Global, will lead the new office of the chairman. He will be joinedby fellow independent directors Christopher Compton, Hanif Dahya and JackJenkins-Stark.

Additionally, S&P Capital IQ has dropped coverage ofSunEdison shares due to a change in investor focus. S&P Capital IQ's mostrecent recommendation on the stock was "hold."

SunEdison shares were down more than 9% at 49 cents in earlytrading Friday, April 1. TerraForm Power shares were up 4.1% at $9.01 andTerraForm Global stock was down more than 5% at $2.25.

S&P Capital IQ andS&P Global Market Intelligence are owned by McGraw Hill Financial Inc.