IRVINE, CA / ACCESSWIRE / October 13, 2016 / Khang & Khang LLP (the "Firm") announces a class action lawsuit 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 purchased shares of SunPower during the Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or via e-mail at joon@khanglaw.com.
There has been no class certification in this case. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
The complaint alleges that through the Class Period, SunPower made false and misleading statements and/or failed to disclose: that many of its 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. When this news became public, shares of SunPower decreased in value.
If you wish to learn more about this lawsuit, or if you have questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or via e-mail at joon@khanglaw.com.
This press release may constitute Attorney Advertising in some jurisdictions.
Contacts
Joon M. Khang, Esq.
Telephone: 949-419-3834
Facsimile: 949-225-4474
joon@khanglaw.com
SOURCE: Khang & Khang LLP
ReleaseID: 447032
