SAN DIEGO, Dec. 2, 2014 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed on behalf of certain purchasers of shares of Vivint Solar Inc (VSLR) over alleged Federal Securities Laws Violations by Vivint Solar.
If you purchased shares of Vivint Solar Inc (NYSE:VSLR), you have certain options and for certain investors are short and strict deadlines running. Deadline: January 20, 2014. VSLR investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On or about September 30, 2014, Vivint Solar Inc and the underwriters announced the pricing of its initial public offering ("IPO") at $16.00 per share, and on October 1, 2014 filed the final Prospectus, which forms part of the Registration Statement for the IPO with the Securities and Exchange Commission.
The plaintiff claims that the Registration Statement for the IPO was negligently prepared and, as a result, contained untrue statements of material facts or omitted to state other facts necessary to make the statements made not misleading.
More specifically, the plaintiff alleges that under the rules and regulations governing the preparation of the Registration Statement, Vivint Solar Inc was required to disclose at the time of 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. The plaintiff claims that the Registration Statement contained no such disclosures.
Then on November 10, 2014, Vivint Solar Inc announced its third quarter 2014 financial results. Vivint Solar Inc also issued its guidance for the fourth quarter in 2014. Shares of Vivint Solar Inc (NYSE:VSLR) declined to as low as $9.76 per share on November 28, 2014.
Those who purchased shares of Vivint Solar Inc (NYSE:VSLR) have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.