Alert 360 Files Complaint Against Vivint Alleging Deceptive Sales and Other Issues
“We have no choice other than to put these issues in the hands of a jury … and look forward to presenting our case,” says Richard Ginsburg, Alert 360 CEO.
“We have no choice other than to put these issues in the hands of a jury … and look forward to presenting our case,” says Richard Ginsburg, Alert 360 CEO.
A North Carolina court unanimously found Vivint Smart Home responsible for using deceptive door-to-door sales practices to mislead and confuse CPI customers.
The data is the result of polling 2,000 American homeowners (40 per state) to gather information about their habits when locking their doors, how concerned they are about someone breaking in, and what items they keep at home that they worry the most about being stolen when they leave.
Smart home stocks fell an average of 32% in 2022. NAPCO, Vivint and ADT are among only five companies that had stock price gains last year.
The lawsuit asks for a jury trial, an order requiring Vivint to pay an ongoing royalty to Alarm.com of an yet-to-be-determined amount, enhanced damages for up to three times the actual damages, plus attorney’s fees.
NRG says the transaction will improve and diversify its financial profile with more predictable earnings through Vivint’s subscription-based model.
During Q3, Vivint increased revenue by $52.7 million to $439.4 million and saw an all-time high in average monthly recurring revenue per user at $66.39.
Fractus claims instead of obtaining a license for use of the patents, ADT and Vivint have ignored correspondence while continuing to make and install infringing products.
Vivint added 26,328 new subscribers, a record for the second quarter, and reported an attrition rate of 10.9%, a 17-quarter low.
Russell served as Vivint Solar’s chief financial officer from 2013 to 2020. He will be responsible for all corporate finance and accounting functions.
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