LOS ANGELES--(BUSINESS WIRE)--Goldberg Law PC, a national shareholder rights litigation firm, announces a class action lawsuit, with a renewed lead plaintiff motion deadline, against SunPower Corporation (“SunPower” or the “Company”) (Nasdaq: SPWR).
Investors who purchased the Company’s shares between February 17, 2016 and August 9, 2016 inclusive (the “Class Period”), are encouraged to contact the firm before July 21, 2017, the renewed lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, click here to participate.
In addition, we encourage you to contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights free of charge. You can also reach us through the firm’s website at http://www.goldberglawpc.com/, or by email at firstname.lastname@example.org.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Complaint alleges that throughout 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 impacting the Company’s assumptions related to monetizing deferred profits; that as a result, demand for SunPower’s products was significantly declining; that in response, 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. Following this news, SunPower’s stock price dropped materially, which caused investors harm.
Goldberg Law PC represents shareholders around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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