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IRVINE, Calif., June 23, 2017 -- Khang & Khang LLP (the “Firm”) announces a securities class action lawsuit against SunPower Corporation (“SunPower” or the “Company”) (Nasdaq:SPWR). Investors who purchased or otherwise acquired shares from February 17, 2016 through 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, Esq., of Khang & Khang LLP, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone at (949) 419-3834, or by e-mail at [email protected].
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 regarding this notice or your rights, please contact Joon M. Khang, a prominent litigator for nearly two decades, by telephone: (949) 419-3834, or via e-mail at [email protected].
This press release may constitute Attorney Advertising in certain jurisdictions.
Contact Joon M. Khang, Esq. Telephone: 949-419-3834 Facsimile: 949-225-4474 [email protected]
