Company Website:
http://www.rosenlegal.com/cases-944.html
NEW YORK -- (Business Wire)
Rosen Law Firm, a global investor rights law firm, notifies purchasers
of SunPower Corporation securities (NASDAQ: SPWR) from February 17, 2016
through August 9, 2016, inclusive (the “Class Period”) of the renewed
July 21, 2017 lead plaintiff deadline. 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.
The complaint alleges that defendants throughout the Class Period made
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
such, 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) as such,
SunPower’s fiscal year 2016 guidance was overstated; and (7) as a
result, defendants’ statements about SunPower’s business, operations,
and prospects, were false and misleading and/or lacked a reasonable
basis. 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 July 21, 2017. 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 for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm
or on Twitter: https://twitter.com/rosen_firm.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Rosen Law Firm represents investors throughout the globe, concentrating
its practice in securities class actions and shareholder derivative
litigation. Since 2014, Rosen Law Firm has been ranked #2 in the nation
by Institutional Shareholder Services for the number of securities class
action settlements annually obtained for investors.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170522006105/en/
Contacts:
The Rosen Law Firm, P.A.
Laurence Rosen, Esq.
Phillip Kim, Esq.
Kevin
Chan, Esq.
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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