Shareholder Alert: Bronstein, Gewirtz & Grossman, LLC Reminds Investors of Class Action against Vivint Solar, Inc. and Lead Plaintiff Deadline of July 5, 2016

NEW YORK, May 4, 2016

Vivint Solar, Inc. is an American solar energy company. In July 2015 SunEdison and Vivint announced a merger that SunEdison would acquire Vivint.   Following this release, Vivint's stock increased $4.87, or roughly 44.8%, to close at $15.75 per share.  On February 24, 2016, at the Vivint's shareholders meeting, investors voted to in favor of the SunEdison merger.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Particularly, Defendants made false and/or misleading statements and/or failed to disclose that: (1) SunEdison would not be able to attain financing for the acquisition of Vivint; (2) SunEdison's earnings were less than Defendants had stated; (3) SunEdison would be unable to complete the acquisition of Vivint; and (4) consequentially, Defendants' statements regarding the SunEdison and Vivint merger were materially false and misleading and/or lacked a reasonable basis at all relevant times.

On February 29, 2016, post-market, SunEdison filed a Notification of Late Filing on Form 12b-25 with the SEC, unveiling that it would be late to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2015. The Notification of Late Filing included information that in late 2015, former SunEdison executives had made accusations of the truthfulness in SunEdison's financial statements. Following this news, Vivint stock dropped $1.37 per share, or more than 17%, to close at $6.52 per share on March 1, 2016.

On March 2, 2016, The Wall Street Journal printed an article, "SunEdison's Takeover of Vivint Solar in Jeopardy as Banks Balk" explaining how the Vivint-SunEdison merger was at risk.

Following this news, Vivint stock dropped $1.63 per share, or 25%, to close at $4.89 per share on March 2, 2016.

On March 8, 2016, Vivint announced the Merger Agreement was cancelled. On that same day Vivint also filed a lawsuit against SunEdison in Delaware Chancery Court claiming it breached the contract. Following this news, Vivint stock dropped $1.04 per share, or roughly 20%, to close at $5.21 per share on March 7, 2016.