World News: 16:00 GMT Tuesday 3rd December 2019. [Glancy Prongay & Murray LLP via Globe Newswire via SPi World News]
LOS ANGELES, Dec. 03, 2019 (GLOBE NEWSWIRE) -- (“GPM”) reminds investors of the upcoming deadline to file a lead plaintiff motion in the class action filed on behalf of Vivint Solar, Inc. (“Vivint” or the “Company”) (NYSE: ) investors who purchased securities between inclusive (the “Class Period”).
If you are a shareholder who suffered a loss, click to participate.
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to , or visit our website at .
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, thereby injuring investors.
The complaint filed in this class action 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.
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If you purchased or otherwise acquired Vivint securities during the Class Period, you may move the Court no later than to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to , or visit our website at . If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Globe Newswire: 16:00 GMT Tuesday 3rd December 2019
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