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 firstname.lastname@example.org 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.