Why Vivint Stock Dropped 12% This Morning
Shares of Vivint Solar (NYSE: VSLR) stock are getting hit hard again this morning, down 5.8% as of noon EDT. In fact, Vivint Solar stock has tumbled an astonishing 21% since the week began -- and now we finally know why.
In a short report just out this morning, short-seller "Marcus Aurelius Value" observes that "Vivint appears to have largely concealed a growing pattern of undisclosed lawsuits alleging the company has engaged in a nationwide fraud involving forged customer contracts."
Indeed, in an appendix to the report, Marcus Aurelius Value lists more than two dozen lawsuits filed against Vivint, alleging in general that "Vivint has forged the signatures of homeowners, complete strangers, relatives, neighbors, and even a dead person onto sham solar contracts."
Source Fool.com
