Company name Vivint Solar, Inc.
Stock symbol VSLR
Status Class Action Complaint Filed

NEW YORK, December 4, 2019 –   Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the Eastern District of New York on behalf of investors that purchased Vivint Solar, Inc.  (NYSE: VSLR)  securities between March 5, 2019 and September 26, 2019 (the “Class Period”).  Investors have until December 10, 2019 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

On September 27, 2019, Marcus Aurelius Value published a report alleging that “28 undisclosed lawsuits . . . specifically allege Vivint forged customer contracts or otherwise engaged in fraud or deception.”

On this news, the company’s share price fell $0.14 per share, or over 2%, to close at $6.55 per share on September 27, 2019.

The complaint, filed on October 11, 2019, alleges that throughout the Class Period, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, defendants failed to disclose to investors: (1) that the company engaged in fraudulent practices, including forging customer contracts; (2) that, as a result, the company’s reported sales and megawatts installed were overstated; (3) that these practices were reasonably likely to lead to regulatory scrutiny: (4) that, as a result, the company’s earnings would be materially and adversely impacted; and (5) that, as a result of the foregoing, defendants’ positive statements about the company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

If you purchased  Vivint shares during the class period, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at  investigations@bespc.com, telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.

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The submission of this form does not create an attorney-client relationship, nor any obligation on the part of Bragar Eagel & Squire, P.C., or you to file a legal action. Any information you submit will be maintained as confidential. If Bragar Eagel & Squire, P.C., in its sole discretion, believes that you might be an appropriate class representative, Bragar Eagel & Squire, P.C., will contact you to discuss the matter and to determine whether to establish an attorney client relationship.

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