Vivint Solar, Inc. (NYSE: VSLR)
According to the Complaint, Vivint is a leading full-service residential solar provider in the United States.
This action stems from a proposed transaction announced on July 6, 2020, pursuant to which Vivint Solar, Inc. will be acquired by Sunrun Inc.
On July 6, 2020, Vivint’s Board of Directors caused the Company to enter into an agreement and plan of merger with Sunrun. Pursuant to the terms of the Merger Agreement, Vivint’s stockholders will receive 0.55 shares of Sunrun common stock for each share of Vivint common stock they own.
On August 14, 2020, Defendants filed a Form S-4 Registration Statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges that the Registration Statement omits material information with respect to the Proposed Transaction, which renders the Registration Statement false and misleading.