Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until April 18, 2022 to file lead plaintiff applications in a securities class action lawsuit against SunPower Corporation (NasdaqGS: SPWR), if they purchased the Company’s securities between August 3, 2021 and January 20, 2022, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of California.
What You May Do
If you purchased shares of SunPower as above and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-spwr/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by April 18, 2022.
About the Lawsuit
SunPower and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On January 20, 2022, the Company disclosed that it had “identified a cracking issue that developed over time in certain factory-installed connectors” and that replacement of the connectors would cause the Company to incur “approximately $27 million of supplier-quality related charges in fourth quarter 2021 and approximately $4 million in the first quarter of 2022.”
On this news, shares of SunPower fell $3.22 per share, or 16.9%, to close at $15.80 per share on January 21, 2022, on unusually heavy trading volume.
The case is Jaszczyszyn v. SunPower Corporation, et al., No. 22-cv-956.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220222006315/en/
Contacts
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
