NEW ORLEANS, June 17, 2016 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until July 5, 2016 to file lead plaintiff applications in a securities class action lawsuit on behalf of shareholders of Vivint Solar, Inc. (NYSE: VSLR), if they purchased the Company's securities between July 20, 2015 and March 7, 2016, inclusive. This action is pending in the Eastern District of Missouri United States District Court.
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 (firstname.lastname@example.org). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by July 5, 2016.
About the Lawsuit
Executives of SunEdison Inc. are charged with failing to disclose that SunEdison would not be able to complete the acquisition of Vivint due to the lack of financing and liquidity, violating federal securities laws.
In July 2015, Vivint announced that it would be acquired by SunEdison. The merger was approved by Vivint's shareholders on February 24, 2016. Thereafter, on February 29, 2016, SunEdison disclosed that it would not be able to timely file its 2015 financial statements due to allegations of bad accounting. Then, on March 8, 2016, Vivint announced that it was terminating the merger agreement and sued SunEdison for breach of contract.
On this news, the price of Vivint's shares plummeted.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
206 Covington St.
Madisonville, LA 70447
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SOURCE Kahn Swick & Foti, LLC