HASI Investor Alert: Kaplan Fox Investigates Potential Fraud of Hannon Armstrong Sustainable Infrastructure Capital, Inc.

NEW YORK, July 22, 2022 (GLOBE NEWSWIRE) -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Hannon Armstrong Sustainable Infrastructure Capital, Inc. (“Hannon Armstrong”) (NYSE: HASI).

Hannon Armstrong is an Annapolis, Maryland based public company that claims to be one of the first U.S. public companies solely dedicated to climate solution investments.

On July 12, 2022, short selling firm Muddy Waters published a report focusing on Hannon Armstrong’s accounting. Specifically, the Report states that Hannon Armstrong’s “accounting is so complex and misleading that its financial statements are effectively meaningless.” The Report further notes “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.”  

Following this news, Hannon Armstrong stock fell 19%, $6.92 per share, to close at $29.40 per share on July 12, 2022.

We have substantial experience in financial accounting cases and are currently investigating this matter. If you purchased or otherwise acquired Hannon Armstrong securities and would like to discuss our investigation, please contact us by emailing [email protected] or by calling (646) 315-9003.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this investigation, your rights, or your interests, please contact:

Frederic S. Fox
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(646) 315-9003
E-mail: [email protected]

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax:  (415) 772-4707
E-mail: [email protected]