Vivint Solar, Inc. ("Vivint" or the Company) is an American provider of photovoltaic solar energy generation systems, primarily for residential customers.

According to the law firm press release, on or about September 30, 2014, Vivint and the underwriters priced the IPO, and on October 1, 2014 filed the final Prospectus, which forms part of the Registration Statement for the IPO (collectively, the "Registration Statement"), with the Securities and Exchange Commission. The IPO was successful for the Company and the underwriters, with Vivint issuing and selling 20.6 million new shares of Vivint common stock to the public at $16 per share, raising approximately $329.6 million in gross proceeds.

The Complaint alleges that the Registration Statement for the IPO was negligently prepared and, as a result, contained untrue statements of material facts or omitted to state other facts necessary to make the statements made not misleading. Under the rules and regulations governing the preparation of the Registration Statement, Vivint was required to disclose at the time of 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. The Registration Statement contained no such disclosures.

On this news of Vivint's disappointing third quarter results, shares of Vivint fell $4.58 per share, or approximately 28.62%, from the IPO price to close at $11.42 per share on November 11, 2014.

On December 10, 2015, the Court issued an Order dismissing this case with prejudice.