Vivint's Chief Legal Officer Agrees To Step Down

By Isabella Cheng, Published Jun 23, 2021, 12:04pm EDT

Vivint's Chief Legal Officer, Shawn Lindquist, is stepping down from his role, effective August 31, 2021. This follows just weeks after Vivint's founder/CEO was replaced by the company's former COO, amid numerous illegal activity complaints.

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In this report, IPVM examines this announcement, Lindquist's role at Vivint, and what this means for Vivint going forward.

CLO ***** ****, *********** *** *** *****

** **** **, ****, Vivint***** ** *-********** ***** ***** ************ ************* **** **** **** his ********, ********* ****** 31, ****:

** **** **, ****, Shawn *. *********, ***** Legal ******* *** ********* of ****** ***** ****, Inc. (*** “*******”) *** the *******reached ** ********* that Mr. Lindquist would step **** from such positions, effective August 31, 2021. [emphasis added]

*********'* *********** *** *** yet **** *****. **** announcement ********** *********** ** **** Pedersen, ******* *** ****** CEO ** ******, ** the **** ***** *** *** *** taking ****** ******* ****** for ******* ************** ****.

Termination ***********

*** ********** *** ********** Agreement ******* ********* *** Vivint ********* ** *** filed *-* ****** **** Lindquist's ********* **** *** company "***** ** ******* as * *********** ** the ******* ******* *****":

********* *** *** ******* (on ****** ** *** Company *****) ***** **** Executive’s ********** **** *** members ** *** ******* Group ***** ********* ** August **, **** ** on **** ******* **** as ************ ** *** Company (*** “*********** ****”) andshall ** ******* ** * *********** ** *** ******* ******* *****. [emphasis added]

Compensation ****

*********'* ***** ************ *** ~$17.5 ******* *** ** 2020, ********* ** ******'***** ****** ****** *** 10-K.

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*** *********, ******'* ***/******* was *********** ~$**.* *******, the *** ~$** *******, and *** ~$**.* ******* in ****.

*********'* ***** ** **** was ********* ** ***** sales *** ********* *******, including ******, *** ****, and ***** ********** *****.

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********* ** *** *-*, Lindquist **** ******* ~$* million **** ******* *** position ** ******. **** largely ******** ** ********** payments, ********* ***% ** his **** ****** (~$****), 150% ** *** **** bonus (~$****), * **** sum ** ****** ******** (~$26.5k), *** *** ********* of * "**** ********* award" (~$****).

Government ******* ******* ****** ** ****

****** *** ***** * Department ** ******* ******* in ****, ***** ******* $23.2 ******* *** ** fines. *****, ** ******* 2021, ********** *** ********** $*.* million ** ****** *************** ****** ********* *** used ***** ******** ***** to ***** ******* ********* payments *** ****** *********, thus ****** "***** *** misleading **********" ** ******* financial ************ **** *** borrowers ********** *** ****** these ********.

****, ** *** ****, Vivint *** ***** $** million *** ******* ***** reps ********* ****** "******** of *********" ** ******** for ********* **** *** credit *** *** *** qualify *** ******* *********. Vivint **** ***** *** practices ** ***** ** 2016, *** *******************, *** ********* ** allow ****.

Former *** ** ****** ***** ****** ****** ** ****** ****

********* *** *** ** Vivint ***** **** ****-**** before ****** **** *** role ** ****** **** in ****. ****** ***** has ********* ******** **** a ****** ** ********** regarding *** ********* ********* practices, ****************************** *** *** **** (NYAG) *** *** ****** Attorney ******** (****).

*** **** ****** ****** Solar's ********* *** *********** "false, **********, ** *********," claiming *** ******* *** overrepresented ******* ** ********* and *** ******* *********' roofs ** ******* ** inspect *** **** ****** installation. ****** ***** ******* a ******* **** **** the **** *** "********* sales *********" *** ******* reasons.

Release ****** ******** ****** ** ************* **** ** **********

*********'* ******* ****** ******** a ****** **** ********* he ** *** "********** or *******" **** ************* to *** ** ********** about ******** ********** ** the ***:

******* ** **** *******shall ******** ** ****** *** ********* **** *************, *********** ** ****** * ********* with any U.S. federal, state or local governmental or law enforcement branch, agency or entity (collectively, a “Governmental Entity”) with ******* ** ******** ********** ** *** *.*. *******, ***** ** ***** *** ** **********, or otherwise making disclosures to any Governmental Entity, in each case, that are protected under the whistleblower provisions of any such law or regulation, provided that in each case such communications and disclosures are consistent with applicable law.

**** ** * ******* clause ** ****** ********** agreements. *** *******,******* ************* ****, ****** ********** ** Vivint *** **** *** company ** **** **** had ******* ******* *****************. ** ***** **** this ****** ** *** common ** ********** ********** for ********** **** ***** publically ****** *********. ******** of *** ******** **** in *** ****** ****** did *** ***** ******* aside **** *** ****** and **** ********** **********, which ******** ******* *******. Further, ****** *** * similar ****** ** * dozen ** ****** ********** agreements **** ***** ******** traded ********* ******* ** results.

No ***** ******* ****** *** ******* ******** **** ******

*********'* ********* ** **** down *** *** *********** by ** ******** ***** release, *** ****** ******** to ******* ** **** whether *** ********* *** affected ** *** ****** legal ****** ****** *** faced. *********, ******** ********** are *********** ** * press ******* ***/** ******** from ***** ********** **** thank *** ********* ****** for ***** ************* *** well-wishes *** ***** ******.

Future ********** *** ******

******'* ***/******* *** *** CLO **** ******* **** within * ***** ** each *****, ** *** wake ** * *** actions ********* ** *********** fines. *** ****** **** pick ** ** *** new *** *** ******* that ****** **** ***** change ******* ** ** seen. ** **** ****** when ****** ********* *** replacement.

Comments (2)

******* ** **** *******shall ******** ** ****** *** ********* **** *************, *********** ** ****** * ********* with any U.S. federal, state or local governmental or law enforcement branch, agency or entity (collectively, a “Governmental Entity”) with ******* ** ******** ********** ** *** *.*. *******, ***** ** ***** *** ** **********, or otherwise making disclosures to any Governmental Entity, in each case, that are protected under the whistleblower provisions of any such law or regulation, provided that in each case such communications and disclosures are consistent with applicable law.

******'* ** ** ******* / ************* ** *** to ******* ****? * know **** **** ********** agreements ******* ****** **** suing ***** *******, *** I ***'* *** *** a ****** ******'* ** able ** **** *** enforcement **** ***** ****** company ***** *** ***.

Agree: 1
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Funny

** ***** ***** ** they *** ****** ** preempt *** **** ******** some **** ** ********* when ** ***** ** talking ** *** ****. Although ** ***** *** the ***** *** ** incriminate *******, ***** * would ***** ** ***** almost **** ** ** if **** ******* ****** hard ********* ***** *** shenanigans **** **** **.

Agree: 1
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Informative: 1
Unhelpful
Funny: 1
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