NEW ORLEANS -- (Business Wire)
Kahn Swick & Foti, LLC (“KSF”) and KSF partner, the former Attorney
General of Louisiana, Charles C. Foti, Jr., remind investors that they
have until January 20, 2015 to file lead plaintiff applications
in a securities class action lawsuit against Vivint Solar, Inc. (NYSE:
VSLR) if they purchased the Company’s securities between the October 1,
2014 date of Vivint’s initial public offering (“IPO”) and November 10,
2014, inclusive (the “Class Period”). This action is pending in the
United States District Court for the Southern District of New York.
What You May Do
If you purchased shares of Vivint and would like to discuss your legal
rights and how this case might affect you and your right to recover for
your economic loss, you may, without obligation or cost to you, call
toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com).
If you wish to serve as a lead plaintiff in this class action, you must
petition the Court by January 20, 2015.
About the Lawsuit
Vivint, certain of its executives, its controlling shareholder, and the
underwriters of its IPO are charged with failing to disclose material
information in connection with the IPO and during the Class Period,
violating federal securities laws.
These false statements and omissions included, in part, that: (i)
ownership trends in the residential solar industry had changed from
long-term leasing to financing; (ii) demand for long-term leases had
declined, and (iii) growth in the Company’s operating expenses in the
third quarter of 2014 had significantly outstripped growth in revenue.
On November 10, 2014, in its first quarterly report since the Company’s
IPO, Vivint reported a much wider than expected loss in the third
quarter of 2014. On this news, the price of Vivint’s shares plummeted.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana
Attorney General, Charles C. Foti, Jr., and other lawyers with
significant experience litigating complex securities class actions
nationwide on behalf of both institutional and individual shareholders,
you may visit www.ksfcounsel.com.
Contacts:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner,
877-515-1850
lewis.kahn@ksfcounsel.com
Source: Kahn Swick & Foti, LLC
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