PHILADELPHIA, Pa.
Lundy Law is investigating potential claims against the Board of Directors of Vivint Solar, Inc. (“Vivint” or the “Company”) (NYSE: VSLR) for possible breaches of fiduciary duty and other violations of law in connection with the proposed sale of the Company to SunEdison, Inc. and TerraForm Power, Inc., in a transaction valued at approximately $2.2 billion. Under the terms of the proposed transaction, Vivint stockholders will receive $16.50 for each share of Vivint stock they own, consisting of $9.89 per share in cash, $3.31 per share in SunEdison stock, and $3.30 per share in SunEdison convertible notes.
Among other things, the investigation concerns whether the proposed transaction undervalues the Company and whether the Board of Directors of Vivint is achieving the best possible value for the Company’s shareholders. As an initial matter, the proposed transaction was announced less than ten months after Vivint’s initial public offering. On October 1, 2014, Vivint stock traded as high as $18.71 per share. Further, according to Yahoo! Finance, analysts have set a median price target of $20.00 on the Company’s shares, and at least one analyst has set a price target of $23.00. Both price targets are well above the price of $16.50 per share that Vivint stockholders will receive if the deal is approved under the current terms.
If you own shares of Vivint common stock and wish to discuss the legal ramifications of the investigation, or have any questions, contact Lundy Law who will, without obligation or cost to you, answer your questions. For more information you may contact David Promisloff, co-counsel to Lundy Law directly at 1-800-LundyLaw, or visit https://www.lundylaw.com/press-releases/VSLR.
Lundy Law has worked hard for more than 50 years to help injured people get the results they need. In addition to shareholder actions and class actions, Lundy Law practices in the areas of personal injury, product liability, auto accident and workers’ compensation. Lundy Law has collected hundreds of millions of dollars in settlements and successful verdicts for our clients. With offices throughout the Delaware Valley and Lehigh Valley, including Philadelphia, Cherry Hill, Wilmington, Bethlehem, and Reading, we care about helping people, no matter how hard the challenge.
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