| COMPANY |
SunPower Corporation |
| COURT |
United States District Court for the Northern District of California |
| CASE NUMBER |
22-cv-00956 |
| JUDGE |
The Honorable Araceli Martinez-Olguin |
| CLASS PERIOD |
August 3, 2021 - January 20, 2022 |
| SECURITY TYPE |
Securities |
Case Background:
A class action lawsuit has been filed on behalf of those who purchased or 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, the 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 26, 2023, the Court held oral argument on Defendants’ Motion to Dismiss and took the Motion under advisement. The Court has not yet issued an opinion. This action 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.