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Investigation for Investors in shares of Vivint Solar, Inc. (NYSE: VSLR) over Takeover by Sunrun announced

07-17-2020 08:36 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of investors of Vivint Solar, Inc. (NYSE: VSLR) in connection with the proposed takeover was announced.

An investigation on behalf of investors of Vivint Solar, Inc. (NYSE: VSLR) in connection with the proposed takeover was announced.

An investigation was announced for investors, who currently hold shares of Vivint Solar, Inc. (NYSE: VSLR), concerning whether the takeover of Vivint Solar, Inc. by Sunrun is unfair to NYSE: VSLR stockholders.

Investors who purchased shares of Vivint Solar, Inc. (NYSE: VSLR) and currently hold any of those NYSE: VSLR shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain officers and directors of Vivint Solar, Inc. breached their fiduciary duties owed to NYSE: VSLR investors in connection with the proposed acquisition.

Lehi, UT based Vivint Solar, Inc. provides distributed solar energy primarily to residential customers in the United States.

On July 6, 2020, Sunrun (NASDAQ: RUN) and Vivint Solar (NYSE: VSLR) announced the companies have entered into an agreement under which Sunrun will acquire Vivint Solar in an all-stock transaction, pursuant to which each share of Vivint Solar common stock will be exchanged for 0.55 shares of Sunrun common stock, representing a combined Enterprise Value of $9.2 billion based on the closing price of Sunrun’s shares on July 6, 2020. Based on a closing price of $20.00 per NASDAQ: RUN shares on July 2, 2020, investors in NYSE: VSLR shares will receive a value of approximately $11.00 per share.

However, given that at least one analyst has set the high target price for NYSE: VSLR at $17.00 and given that NYSE: VSLR shares reached as high as $20.64 per share in the open market on July 16, 2020, the investigation concerns whether the offer is unfair to NYSE: VSLR stockholders. More specifically, the investigation concerns whether the Vivint Solar Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Those who are current investors in Vivint Solar, Inc. (NYSE: VSLR) shares have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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