SHAREHOLDER ALERT: Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in Vivint Solar, I...
23 December 2014 - 12:18PM
The securities litigation law firm of Brower Piven, A Professional
Corporation, announces that a class action lawsuit has been
commenced in the United States District Court for the Southern
District of New York on behalf of purchasers of Vivint Solar, Inc.
("Vivint" or the "Company") (NYSE:VSLR) common stock between
October 1, 2014, the date of Vivint's initial public offering
("IPO") and November 10, 2014. Investors who wish to become
proactively involved in the litigation have until January 20, 2015
to seek appointment as lead plaintiff.
If you have suffered a loss from investment in Vivint common
stock and would like to learn more about this lawsuit and your
ability to participate as a lead plaintiff, without cost or
obligation to you, please visit our website at
http://www.browerpiven.com/currentsecuritiescases.html. You
may also request more information by contacting Brower Piven either
by email at hoffman@browerpiven.com or by telephone at (410)
415-6616. No class has yet been certified in the above
action. Members of the Class will be represented by the lead
plaintiff and counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you and the Class,
you must apply to be appointed lead plaintiff and be selected by
the Court. The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a
settlement and how much of a settlement to accept for the Class in
the action. The lead plaintiff will be selected from among
applicants claiming the largest loss from investment in Company
units during the Class Period. Brower Piven also encourages
anyone with information regarding the Company's conduct during the
period in question to contact the firm, including whistleblowers,
former employees, shareholders and others.
The complaint accuses Vivint, certain of its officers and
directors, its controlling shareholder and the underwriters of its
IPO of violations of the Securities Act of 1933 by virtue of the
failure to disclose in the final Prospectus, which forms part of
the Registration Statement for the IPO, that ownership trends in
the residential solar industry had changed from long-term leasing
to financing, that demand for long-term leases had declined, and
that growth in the Company's operating expenses in the third
quarter of 2014 had significantly outstripped growth in revenue,
resulting in much weaker sales trends and significantly larger net
losses than the market had been led to expect. According to
the complaint, following the Company's IPO, the value of Vivint
shares declined significantly.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s. If
you choose to retain counsel, you may retain Brower Piven without
financial obligation or cost to you, or you may retain other
counsel of your choice. You need take no action at this time
to be a member of the class.
CONTACT: Charles J. Piven
Brower Piven, A Professional Corporation
1925 Old Valley Road
Stevenson, Maryland 21153
Telephone: 410-415-6616
hoffman@browerpiven.com
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