NEW YORK--(BUSINESS WIRE)--
Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of SunPower Corporation (NASDAQ: SPWR) from February 17, 2016 through August 9, 2016, inclusive (the “Class Period”) of the renewed July 21, 2017 lead plaintiff deadline. The lawsuit seeks to recover damages for SunPower investors under the federal securities laws.
To join the SunPower class action, go to the firm’s website at http://www.rosenlegal.com/cases-944.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll free at 866-767-3653 or email [email protected] or [email protected] for more information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
The complaint alleges that defendants throughout the Class Period 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.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 21, 2017. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to the firm’s website at http://www.rosenlegal.com/cases-944.html for more information. You may also contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm toll free at 866-767-3653 or via email at [email protected] or [email protected].
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Since 2014, Rosen Law Firm has been ranked #2 in the nation by Institutional Shareholder Services for the number of securities class action settlements annually obtained for investors.
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