LOS ANGELES -- (Business Wire)
Glancy
Prongay & Murray LLP (“GPM”) announces the renewed lead
plaintiff deadline of July 21, 2017 in the class action lawsuit
filed on behalf of investors who purchased SunPower Corporation
(“SunPower” or the “Company”) (NASDAQ: SPWR)
securities between February 17, 2016 and August 9, 2016, inclusive (the
“Class Period”). SunPower investors are encouraged to contact Lesley
Portnoy, Esquire, to discuss their legal claims in this putative class
action lawsuit.
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 shares, you may move the Court no later than July
21, 2017 to request appointment as lead plaintiff in this class
action. To be a member of the class action 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. If you wish to learn
more about this class action lawsuit, or if you have any questions
concerning this announcement or your rights or interests with respect to
these matters, please contact Lesley
Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los
Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by
email to shareholders@glancylaw.com,
or visit our website at http://www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased. 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/20170522006366/en/
Contacts:
Glancy Prongay & Murray LLP, Los Angeles/New York
Lesley
Portnoy, 310-201-9150 or 888-773-9224
shareholders@glancylaw.com
www.glancylaw.com
Source: Glancy Prongay & Murray LLP
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