WILMINGTON, Del.--(BUSINESS WIRE)--Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of Vivint Solar, Inc. (“Vivint Solar” or the “Company”) (NASDAQ: VSLR) relating to the sale of the Company to SunEdison, Inc. (“SunEdison”). On July 20, 2015, the two companies announced the signing of a definitive merger agreement pursuant to which SunEdison will acquire Vivint Solar in a merger valued at roughly $2.2 billion. As a result of the merger, Vivint Solar shareholders are only anticipated to receive $9.89 per share in cash, $3.31 per share in SunEdison stock and $3.31 per share in SunEdison convertible notes. The combined total consideration Vivint shareholders are expected to receive is only $16.50 per share.
Our Firm’s investigation has so far uncovered that the process leading up to the announcement of the merger appears to have some questionable conflicts of interest, thus making the process and consideration unfair. As indicated by the Company, Vivint Solar’s entire senior management team will continue their employment with SunEdison once the merger closes. Also the consideration that Vivint shareholders are expected to receive is inadequate. Multiple analysts on Yahoo! Finance have set a median price target of $20.00 per share and one analyst has set a $23.00 per share price target. Based on Vivint Solar’s $16.00 per share stock price when the Company became public just nine (9) months ago, Vivint Solar shareholders are only expected to receive a 3.125% premium for their shares.
If you own shares of Vivint Solar and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/vivint-solar-class-action-investigation or contact Craig J. Springer, Esq. at firstname.lastname@example.org, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.