Company Website:
http://www.rosenlegal.com/cases-944.html
NEW YORK -- (Business Wire)
Rosen Law Firm, a global investor rights law firm, announces the filing
of a class action lawsuit on behalf of purchasers of SunPower
Corporation securities (NASDAQ:SPWR) from February 17, 2016 through
August 9, 2016, both dates inclusive (the “Class Period”). The lawsuit
seeks to recover damages for SunPower investors under the federal
securities laws.
To join the SunPower class action, go to the firm’s website at http://www.rosenlegal.com/cases-944.html
or call Phillip Kim, Esq. or Kevin Chan, Esq. toll free at 866-767-3653
or email pkim@rosenlegal.com or kchan@rosenlegal.com
for more information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS
CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU
MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU
MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, throughout the Class Period defendants issued
false and misleading statements to investors 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; (3) market disruption in the
YieldCo environment was impacting SunPower’s assumptions related to
monetizing deferred profits; (4) demand for SunPower’s products was
significantly declining; (5) in response, SunPower would implement a
manufacturing realignment that would result in significant restructuring
charges; (6) SunPower’s fiscal year 2016 guidance was overstated; and
(7) as a result, defendants’ statements about SunPower’s business,
operations and prospects were materially false and misleading. When the
true details entered the market, the lawsuit claims that investors
suffered damages.
A class action lawsuit has already been filed. If you wish to serve as
lead plaintiff, you must move the Court no later than October 17, 2016.
A lead plaintiff is a representative party acting on behalf of other
class members in directing the litigation. If you wish to join the
litigation, go to the firm’s website at http://www.rosenlegal.com/cases-944.html
for more information. You may also contact Phillip Kim, Esq. or Kevin
Chan, Esq. of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com
or kchan@rosenlegal.com.
Follow us on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm
or on Twitter: https://twitter.com/rosen_firm.
Rosen Law Firm represents investors throughout the globe, concentrating
its practice in securities class actions and shareholder derivative
litigation.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160819005724/en/
Contacts:
Laurence Rosen, Esq.
Phillip Kim, Esq.
Kevin Chan, Esq.
The
Rosen Law Firm, P.A.
275 Madison Avenue, 34th Floor
New
York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax:
(212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
kchan@rosenlegal.com
www.rosenlegal.com
Source: Rosen Law Firm
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