The Klein Law Firm Announces a Class Action Filed on Behalf of SunPower Corp. Shareholders & a Lead Plaintiff Deadline of Jul...
21 June 2017 - 1:45AM
Business Wire
The Klein Law Firm announces that a class action complaint has
been filed on behalf of shareholders of SunPower Corporation
(NASDAQ: SPWR) who purchased shares between February 17, 2016 and August
9, 2016. The action, which was filed in the United States
District Court for the Northern District of California, alleges
that the Company violated federal securities laws.
In particular, the complaint alleges that throughout the Class
Period, defendants made materially false and/or misleading
statements and/or failed to disclose that (1) a substantial number
of SunPower's customers were adopting a longer-term timeline for
project completion; (2) SunPower's near-term economic returns were
deteriorating due to aggressive PPA pricing by new market entrants;
(3) market disruption in the YieldCo environment was impacting
SunPower's assumptions related to monetizing deferred profits; (4)
as a result, demand for the Company's products was significantly
decreasing; (5) in response, SunPower would implement a
manufacturing realignment that would result in significant
restructuring charges; and (6) consequently, the Company's fiscal
year 2016 guidance was overstated.
Shareholders have until July 21, 2017 to petition the
court for lead plaintiff status. Your ability to share in any
recovery does not require that you serve as lead plaintiff. You may
choose to be an absent class member.
If you suffered a loss during the class period and wish to
obtain additional information, please contact Joseph Klein, Esq. by
telephone at 212-616-4899 or visit
http://www.kleinstocklaw.com/pslra-sa/sunpower-corporation-2?wire=2.
Joseph Klein, Esq. is an experienced attorney and has also
practiced as a Certified Public Accountant. Mr. Klein represents
investors and participates in securities litigations involving
financial fraud throughout the nation. Attorney advertising. Prior
results do not guarantee similar outcomes.
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version on businesswire.com: http://www.businesswire.com/news/home/20170620006186/en/
The Klein Law FirmJoseph Klein, Esq., 212-616-4899Fax:
347-558-9665www.kleinstocklaw.com
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