Pomerantz LLP Announces Proposed Class Action Settlement on Behalf of Purchasers of Securities of Vivint Solar, Inc. -- VSLR
October 30 2017 - 7:00AM
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
info@strategicclaims.net. 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:
Clerk of the Court United States
District Court Southern District of New York
500 Pearl Street New York, NY 10007 |
Plaintiffs’ Counsel Jeremy A.
Lieberman Murielle J. Steven Walsh Aatif
Iqbal POMERANTZ LLP 600 Third Avenue, Floor 20
New York, NY 10016 |
Counsel For Defendants Ahmad Chatila And Brian
Weubbels Sara B. Brody SIDLEY AUSTIN
LLP 555 California Street, Suite 2000 San Francisco, CA
94104 |
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
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