IRVINE, Calif. -- (Business Wire)
Khang & Khang LLP (the “Firm”) announces that a class action lawsuit was
filed against SunPower Corporation (“SunPower” or the “Company”)
(Nasdaq: SPWR). Investors, who purchased or otherwise acquired shares
between February 17, 2016 and August 9, 2016 inclusive (the “Class
Period”), are encouraged to contact the Firm prior to the October 17,
2016 lead plaintiff motion deadline.
If you purchased shares of SunPower during the Class Period, please
contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman
Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by
e-mail at joon@khanglaw.com.
There has been no class certification in this case. Until certification
occurs, you are not represented by an attorney. You may choose to take
no action and remain a passive class member.
According to the complaint, during the Class Period, the Company made
false and misleading statements and/or failed to disclose: that many of
SunPower’s customers were adopting a longer-term timeline for project
completion; that the Company’s near-term economic returns were
deteriorating due to aggressive PPA pricing by new market entrants; that
market disruption in the YieldCo environment was affecting SunPower’s
assumptions related to monetizing deferred profits; that demand for the
Company’s products was significantly declining; that the Company would
implement a manufacturing realignment that would result in significant
restructuring charges; that the Company’s fiscal year 2016 guidance was
overstated; and as a result of the above, SunPower’s statements about
its business, operations and prospects, were false and misleading and/or
lacked a reasonable basis.
If you wish to learn more about this lawsuit, or if you have any
questions concerning this notice or your rights, please contact Joon M.
Khang, a prominent litigator for almost two decades, by telephone: (949)
419-3834, or by e-mail at joon@khanglaw.com.
This press release may constitute Attorney Advertising in some
jurisdictions.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160818006290/en/
Contacts:
Khang & Khang LLP
Joon M. Khang, Esq.
Telephone:
949-419-3834
Facsimile: 949-225-4474
joon@khanglaw.com
Source: Khang & Khang LLP
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