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(VSLR) Alert: Johnson Fistel Investigates Proposed Sale of Vivint Solar; Are Shareholders Getting a Fair Deal? - Benzinga
SAN DIEGO, July 7, 2020 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of ...
SAN DIEGO, July 7, 2020 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Vivint Solar, Inc. ("Vivint" or the "Company") (NYSE:VSLR) breached their fiduciary duties in connection with the proposed sale of the Company to Sunrun Inc. (NASDAQ:RUN). On July 7, 2020, Vivint announced that it had entered into a definitive merger agreement with Sunrun. In an all-stock transaction, each share of Vivint Solar common stock will be exchanged for 0.55 shares of Sunrun common stock, representing a combined Enterprise Value of $9.2 billion based on the closing price of Sunrun's shares on July 6, 2020. However, shareholders will be subject to the future price fluctuation of Sunrun's stock price . Sunrun's shareholders will hold about 64% of the combined company, with the rest owned by Vivint Solar's stockholders. The investigation concerns whether the Vivint board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Vivint shares of common stock. If you are a shareholder of Vivint and believe the proposed buyout price is too low or you're interested in learning more about the investigation, please contact lead analyst Jim Baker ([email protected] ) at 619-814-4471. If emailing, please include a phone number. Additionally, you can [Click here to join this action]. There is no cost or obligation to you. About Johnson Fistel, LLP:Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes. Contact:Johnson Fistel, LLPJim Baker, 619-814-4471 [email protected] [Click here to join this action] View original content:http://www.prnewswire.com/news-releases/vslr-alert-johnson-fistel-investigates-proposed-sale-of-vivint-solar-are-shareholders-getting-a-fair-deal-301089165.html SOURCE Johnson Fistel, LLP
Tesla Ranked The Lowest In J.D. Power Survey Of New Vehicle Owners - Benzinga
The J.D. Power 2020 Initial Quality Study (IQS) has found that buyers of Tesla Inc.’s (NASDAQ: TSLA) vehicles report more issues with their vehicles ...
The J.D. Power 2020 Initial Quality Study (IQS) has found that buyers of Tesla Inc.’s (NASDAQ: TSLA) vehicles report more issues with their vehicles in the first 90 days of ownership compared with other new vehicle owners. What Happened The J.D. Power 2020 Initial Quality Stud is a survey of issues encountered by new car owners of the latest model cars. Tesla was profiled for the first time in the IQS. The automaker scored 250 and ranked the lowest among all the manufacturers covered in the study. Tesla’s ranking in the study is not official, as it does not meet the study’s criteria. Doug Betts, president of the automotive division at J.D. Power, said, “unlike other manufacturers, Tesla doesn’t grant us permission to survey its owners in 15 states where it is required.” Betts revealed how Tesla was ranked, saying, “we were able to collect a large enough sample of surveys from owners in the other 35 states and, from that base, we calculated Tesla’s score.” Why It Matters The industry average for 2020 model vehicles was 166 problems per 100 vehicles. The top-ranked manufacturers were Fiat Chrysler Automobiles NV’s (NYSE: FCAU) Dodge and Kia Motors Corporation, both tied at 136 problems per 100 vehicles. According to Dave Sargent, vice president of automotive quality at J.D. Power, vehicles with less technology typically perform better in the study. Betts told CNBC in an email that Tesla’s issues range from paint imperfections, poor fit of body panels, trunks and hoods, which are hard to open as well as squeaks and rattles. Tesla’s failing touch screens have recently attracted an investigation from the U.S. National Highway Traffic Safety Administration. Price Action Tesla shares traded 1.03% lower at $951 in the after-hours session on Wednesday. The shares had closed the regular session 4.09% lower at 960.85. © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.