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SAN FRANCISCO, Nov. 14, 2019 (GLOBE NEWSWIRE) -- Hagens Berman urges Vivint Solar, Inc. (NYSE: VSLR) investors who have suffered losses in excess of $50,000 to submit their losses now or contact the firm immediately to learn if they qualify to recover compensable damages. A securities fraud class action was recently filed on behalf of certain VSLR investors against the company and senior executives.
Vivint Solar, Inc. (VSLR) Class Action:
According to the Complaint, Defendants concealed Vivint Solar’s illegal business practices, including forging customer contracts and, as a result, Defendants overstated the Company’s reported sales and megawatts installed.
According to a scathing report published by Marcus Aurelius Value on September 27, 2019, the research firm found 28 undisclosed lawsuits that specifically allege Vivint defrauded its most vulnerable customers, including the elderly, handicapped and non-English speaking families, by “forg[ing] the signatures of homeowners, complete strangers, relatives, neighbors and even a dead person onto sham solar contracts.”
If you invested in Vivint Solar between Mar. 5, 2019 and Sept. 26, 2019 and suffered significant losses (in excess of $50,000) you may qualify to be a lead plaintiff – one who selects and oversees the attorneys prosecuting the case. Submit a loss form or contact Reed Kathrein, the Hagens Berman partner leading the investigation, to obtain additional information about this case or being a lead plaintiff.
“We’re focused on investors’ losses and whether Vivint has boosted sales through outright fraud and forgery to close deals,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Vivint Solar should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email VSLR@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 510-725-3000