LOS ANGELES--(BUSINESS WIRE)--Goldberg Law PC (the “Firm”) announces that a class action lawsuit has been filed 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 October 17, 2016 lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, click here to participate. In addition, we advise 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 without cost to you. 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.
According to the complaint, the Company made false and misleading statements and/or failed to disclose: that many of SunPower’s customers were adopting a longer-term timeline for project completion; that the Company’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 SunPower’s assumptions related to monetizing deferred profits; that demand for the Company’s products was significantly declining; that the Company would implement a manufacturing realignment that would result in significant restructuring charges; that the Company’s fiscal year 2016 guidance was overstated; and 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.
Goldberg Law PC represents shareholders around the world and specializes in securities class actions and shareholder rights litigation.
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