IRVINE, Calif. -- (Business Wire)
Khang & Khang LLP (the “Firm”) announces a class action lawsuit 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 in advance of the July 21, 2017 lead
plaintiff motion deadline.
If you purchased SunPower shares during the Class Period, please contact
Joon M. Khang, Esquire, of Khang & Khang LLP, 18101 Von Karman Avenue,
3rd Floor, Irvine, CA 92612, by telephone at (949)
419-3834, or by e-mail at joon@khanglaw.com.
There has been no class certification in this case yet. 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, SunPower made
materially false and misleading statements and/or failed to disclose:
that a substantial number of its customers were adopting a longer-term
timeline for project completion; that SunPower’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 the Company’s assumptions related to monetizing deferred
profits; that as a result, demand for SunPower’s products was
significantly declining; that the Company implemented a manufacturing
realignment that would result in significant restructuring charges; that
the Company’s fiscal year 2016 guidance was overstated; and that 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. When this information was released, shares of SunPower
fell in value materially, which harmed investors according to the
Complaint.
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 via 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/20170522006454/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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