Company Website:
http://www.zlk.com
NEW YORK -- (Business Wire)
The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired
securities of SunPower Corporation (NASDAQ: SPWR) between
February 17, 2016 and August 9, 2016.
You are hereby notified that a securities class action has
commenced in the USDC for the Northern District of California. If you
purchased or otherwise acquired SunPowersecurities between
February 17, 2016 and August 9, 2016, your rights may be affected by
this action. To get more information go to: http://www.zlk.com/pslra/sunpower-corporation.
The complaint alleges that SunPower made false and/or misleading
statements and/or failed to disclose that: (1) a substantial number of
the Company’s customers were adopting a longer-term timeline for project
completion; (2) the Company’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 the Company’s
assumptions related to monetizing deferred profits; (4) as such, demand
for the Company’s products was significantly declining; and (5) in
response, the Company would implement a manufacturing realignment that
would result in significant restructuring charges.
On August 9, 2016, SunPower announced it would decrease its fiscal year
2016 guidance from a net income of between $0 and $50 million, to a net
loss of between $175 and $125 million.
If you suffered a loss in SunPower you have until October
17, 2016to request that the Court appoint you as lead
plaintiff. Your ability to share in any recovery doesn’t require that
you serve as a lead plaintiff. To obtain additional information, contact
Joseph E. Levi, Esq. either via email at jlevi@zlk.com
or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com/pslra/sunpower-corporation.
Levi & Korsinsky is a national firm with offices in New York, New
Jersey, California, Connecticut, and Washington D.C. The firm’s
attorneys have extensive experience representing investors in securities
litigation involving financial fraud, and have recovered hundreds of
millions of dollars for aggrieved shareholders. Attorney advertising.
Prior results do not guarantee similar outcomes.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161007005790/en/
Contacts:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq., 212-363-7500
Toll
Free: 877-363-5972
Fax: 212-363-7171
www.zlk.com
Source: Levi & Korsinsky
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