Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired SunPower Corporation (“SunPower”) (NASDAQ: SPWR) securities between August 3, 2021 and January 20, 2022, inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) certain connectors used by SunPower suffered from cracking issues; (2) as a result, SunPower was reasonably likely to incur costs to remediate the faulty connectors; (3) as a result of the foregoing, SunPower’s financial results would be adversely impacted; and (4) as a result of the foregoing, the defendants’ positive statements about SunPower’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Current Status of Case:
On October 11, 2024, Defendants filed a Motion to Dismiss the Complaint. The Court granted Defendants’ Motion on February 14, 2025, and dismissed the case. On March 14, 2025, Plaintiff filed a Notice of Appeal to the Ninth Circuit Court of Appeals. The appeal is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.