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 email@example.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.