Sunedison Up 10% On Apparently 'Fake' PR

Shares of Sunedison Inc SUNE were trading higher by more than 10 percent on Monday following a questionable and suspicious press release by Debtwire which discussed potential M&A activity. The questionable press release appeared on Briefing Wire and was attributed to Madalina Iacob, a senior reporter for Debtwire. The press release was confirmed to be fake in a Twitter post by Andrew Ragsly, managing editor of Debtwire North America. The Tweet was also Retweeted by Madalina Iacob.

No, @Debtwire didn't write that fake $SUNE buyout story involving "Rockefeller Brothers Fund"

— Andrew Ragsly (@AndrewRagsly) March 28, 2016

The fake press release suggested that Sunedison is being eyed as an acquisition target for "Rockefeller Brothers Fund." The fake press release added that while the rumor is unconfirmed, it is "not entirely without merit." The fake press release continued that the Rockefeller Brothers are "immediately divesting from coal and tar sand" and looking to re-invest in renewable energy assets.