Vivint Solar, Inc. Shareholder Alert: Former SEC Attorney Willie Briscoe & Powers Taylor Investigate Possible Breaches of Fid...
December 17 2014 - 12:19PM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the
securities litigation firm of Powers Taylor LLP announce that a
federal class action lawsuit has been filed in the United States
District Court for the Southern District of New York against Vivint
Solar, Inc. (“Vivint”) (NYSE: VSLR) and several officers and
directors for acts taken during the period of October 1, 2014 to
November 10, 2014 (the “Class Period”).
Based upon the allegations in the class action, the firms are
investigating additional legal claims against the officers and
Board of Directors of Vivint. If you are an affected Vivint
shareholder and want to learn more about the lawsuit or join the
action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214)
239-4568, or via email at
WBriscoe@TheBriscoeLawFirm.com, or
Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, or
via e-mail at shareholder@powerstaylor.com. There is no cost or fee
to you.
According to the complaint, the defendants are alleged to have
violated certain provisions of the Securities Exchange Act of 1934.
Specifically, the complaint alleges, among other things, that
Vivint failed to disclose in its final Prospectus for the IPO’s
Registration Statement that: i) ownership trends in the residential
solar industry had changed from long-term leasing to financing; ii)
demand for long-term leasing had declined; and iii) growth in
Vivint’s operating expenses in the third quarter of 2014 had
significantly outstripped growth in revenue, resulting in weaker
sales trends and larger net losses than the market had been led to
expect. Vivint stock dropped significantly immediately following
this announcement.
The Briscoe Law Firm, PLLC is a full service business
litigation, commercial transaction, and public advocacy firm with
more than 20 years of experience in complex litigation and
transactional matters.
Powers Taylor LLP is a boutique litigation law firm that handles
a variety of complex business litigation matters, including claims
of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
The Briscoe Law Firm, PLLCWillie Briscoe, (214)
239-4568WBriscoe@TheBriscoeLawFirm.comorPowers Taylor LLPPatrick
Powers, (877) 728-9607shareholder@powerstaylor.com
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