DEADLINE ALERT: Rigrodsky & Long, P.A. Reminds Shareholders Of SunPower Corporation Of Upcoming Deadline

WILMINGTON, Del., Sept. 30, 2016 -- Rigrodsky & Long, P.A.:

• Do you, or did you, own shares of SunPower Corporation (NASDAQ:SPWR)?
  
  
• Did you purchase your shares between February 17, 2016 and August 9, 2016, inclusive?
  
  
• Did you lose money in your investment?
  

Rigrodsky & Long, P.A. reminds shareholders of SunPower Corporation (“SunPower” or the “Company”) (NASDAQ:SPWR) of an upcoming deadline involving a securities fraud class action lawsuit commenced against the Company.  A complaint was filed in the United States District Court for the Northern District of California on behalf of all persons or entities that purchased the common stock of SunPower between February 17, 2016 and August 9, 2016, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).

The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects.  Specifically, the Complaint alleges that the defendants concealed from the investing public that: (1) that a substantial number of the Company’s customers were adopting a longer-term timeline for project completion; (2) that the Company’s near-term economic returns were deteriorating due to aggressive Purchase Power Agreement (“PPA”) pricing by new market entrants; (3) that market disruption in the YieldCo environment was impacting the Company’s assumptions related to monetizing deferred profits; (4) that, as such, demand for the Company’s products was significantly declining; (5) that, in response, the Company would implement a manufacturing realignment that would result in significant restructuring charges; (6) that, as such, the Company’s fiscal year 2016 guidance was overstated; and (7) that, as a result of the foregoing, Defendants’ statements about SunPower’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.  As a result of defendants’ alleged false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.

If you wish to serve as lead plaintiff, you must move the Court no later than October 17, 2016.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

If you purchased shares of SunPower during the Class Period, or purchased shares prior to the Class Period and still hold SunPower, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to [email protected]; or at: http://rigrodskylong.com/investigations/sunpower-corporation-spwr-lawsuit.       
                            
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CONTACT:  

Rigrodsky & Long, P.A.
Timothy J. MacFall, Esquire
Peter Allocco
(888) 969-4242
(516) 683-3516
Fax: (302) 654-7530
[email protected] 
http://www.rigrodskylong.com