Pomerantz LLP Announces Proposed Class Action Settlement on Behalf of Purchasers of Securities of Vivint Solar, Inc. -- VSLR

NEW YORK, Oct. 30, 2017 -- Pomerantz LLP announces that the United States District Court for the Southern District of New York has approved the following announcement of a proposed class action settlement that would benefit purchasers of securities of Vivint Solar, Inc. (NYSE:VSLR):

SUMMARY NOTICE OF PROPOSED CLASS-ACTION SETTLEMENT

To:  All Persons Who Purchased Or Otherwise Acquired Securities of Vivint Solar, Inc. Between July 20, 2015 and April 1, 2016, Both Dates Inclusive.

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Southern District of New York, that a hearing will be held on January 31, 2018, at 2:00 p.m. before the Honorable P. Kevin Castel, United States District Judge of the Southern District of New York, 500 Pearl Street, Courtroom 11D, New York, NY 10007 for the purpose of determining: (1) whether the proposed Settlement of the claims in the above-captioned Action for consideration including the sum of $2,100,000 should be approved by the Court as fair, reasonable, and adequate; (2) whether the proposed plan to distribute the Settlement proceeds is fair, reasonable, and adequate; (3) whether the application of Plaintiffs’ Counsel for an award of attorneys’ fees of up to 30% of the Settlement Amount ($630,000) plus interest, reimbursement of expenses of not more than $50,000, and an incentive payment of no more than $4,000 aggregate ($2,000 each to Lead Plaintiff and Named Plaintiff) should be approved; and (4) whether this Action should be dismissed with prejudice as set forth in the Stipulation and Agreement of Settlement dated September 8, 2017 (the “Settlement Stipulation”).

If you purchased Vivint Solar, Inc. (“Vivint”) securities between July 20, 2015 and April 1, 2016, both dates inclusive (the “Settlement Class Period”), your rights may be affected by this Settlement, including the release and extinguishment of claims you may possess relating to your ownership interest in Vivint securities. If you have not received a detailed Notice Of Proposed Settlement Of Class Action, Motion For Attorneys’ Fees And Expenses, And Settlement Fairness Hearing (“Notice”) and a copy of the Proof of Claim and Release form, you may obtain copies by visiting http://www.strategicclaims.net/cases or by contacting the Claims Administrator at: Vivint Solar, Inc. Securities Litigation, c/o Strategic Claims Services, P.O. Box 230, 600 N. Jackson Street, Suite 3, Media, PA 19063; toll-free at (866) 274-4004; or email at [email protected]. If you are a member of the Settlement Class, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release form to the Claims Administrator, postmarked no later than January 5, 2018, establishing that you are entitled to recovery. Unless you submit a written exclusion request, you will be bound by any judgment rendered in the Action whether or not you make a claim. 

If you desire to be excluded from the Settlement Class, you must submit to the Claims Administrator a request for exclusion so that it is received no later than January 5, 2018, in the manner and form explained in the detailed Notice. All members of the Settlement Class who have not requested exclusion from the Settlement Class will be bound by any judgment entered in the Action pursuant to the Settlement Stipulation.

Any objection to the Settlement, Plan of Allocation, or Plaintiffs’ Counsel’s request for an award of attorneys’ fees and reimbursement of expenses and award to Lead Plaintiff and Named Plaintiff must be in the manner and form explained in the detailed Notice and received no later than January 5, 2018, to each of the following:

If you have any questions about the Settlement, you may visit http://www.strategicclaims.net/cases or write to Plaintiffs’ Counsel at the above address. PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE.

Dated: September 14, 2017                                             __________________________________
                                                                                           BY ORDER OF THE UNITED STATES
                                                                                           DISTRICT COURT FOR THE SOUTHERN
                                                                                           DISTRICT OF NEW YORK

Contact: 
Jeremy Lieberman 
Pomerantz LLP 
600 Third Avenue, Floor 20 
New York, NY 10016 
212-661-1100