NEW YORK, Nov. 26, 2014 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a securities class action has been filed in the United States District Court for the Southern District of New York on behalf of those who purchased shares of Vivint Solar, Inc. ("Vivint Solar" or the "Company") (NYSE: VSLR), during the period between the October 1, 2014 date of Vivint Solar's initial public offering ("IPO") and November 10, 2014. (the "Class Period").
The Complaint charges Vivint Solar and certain of its executives with violations of federal securities laws. The complaint alleges during the Class Period defendants issued materially false and misleading financial information to investors. Specifically the complaint alleges the following: (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, Vivint Solar announced a much larger loss than anticipated for the third quarter of 2014. Upon this announcement and within the next day, Vivint Solar Research shares fell dramatically during trading.
On this news, Shares of Vivint Solar shares fell $7.29 per share or approximately 20%, to close at $11.42 per share on November 11, 2014.
Plaintiff seeks to recover damages on behalf of all shareholders who purchased shares of Vivint Solar during the Class Period described above.
No Class has yet been certified in the above action. If you wish to review a copy of the Complaint, to discuss this action, or have any questions, please contact Peretz Bronstein, Esq. or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email [email protected]. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. If you suffered a loss in Vivint Solar you have until January 20, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman 212-697-6484
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