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Case Status:    ONGOING    
On or around 03/27/2020 (Date of last review)

Filing Date: October 11, 2019

According to the Complaint, Vivint Solar, Inc. offers solar energy systems to residential customers through a direct-to-home sales model.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Complaint alleges Defendants failed to disclose to investors: (1) that the Company engaged in fraudulent practices, including forging customer contracts; (2) that, as a result, the Company’s reported sales and megawatts installed were overstated; (3) that these practices were reasonably likely to lead to regulatory scrutiny: (4) that, as a result, the Company’s earnings would be materially and adversely impacted; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

On March 23, 2020, the Court issued an Order consolidating cases and appointing Co-Lead Plaintiffs and Counsel.

COMPANY INFORMATION:

Sector: Energy
Industry: Alternative Energy
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: VSLR
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: E.D. New York
DOCKET #: 19-CV-05777
JUDGE: Hon. Frederic Block
DATE FILED: 10/11/2019
CLASS PERIOD START: 03/05/2019
CLASS PERIOD END: 09/26/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Prongay & Murray LLP (NY)
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available