BENSALEM, Pa. -- (Business Wire)
Law Offices of Howard G. Smith reminds investors of the upcoming July
21, 2017 deadline to file a lead plaintiff motion in the class
action lawsuit filed on behalf of a class of investors who purchased or
otherwise acquired SunPower Corporation. (“SunPower” or the “Company”)
(NASDAQ: SPWR)
securities between February 17, 2016 and August 9, 2016,
inclusive (the “Class Period”). SunPower investors have until July
21, 2017 to file a lead plaintiff motion.
According to the complaint filed in this class action lawsuit,
throughout the Class Period defendants 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.
If you purchased SunPower securities, you may move the Court no later
than July 21, 2017 to request appointment as lead plaintiff
in the putative class action lawsuit. To be a member of the class you
need not take any action at this time; you may retain counsel of your
choice or take no action and remain an absent member of the class action
lawsuit. If you wish to learn more about this action, or if you have any
questions concerning this announcement or your rights or interests with
respect to this lawsuit, please contact Howard G. Smith, Esquire, of Law
Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888)
638-4847, or by email to howardsmith@howardsmithlaw.com,
or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170719006338/en/
Contacts:
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
Source: Law Offices of Howard G. Smith
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