SunPower Corporation
A securities class action has been filed in the USDC – N.D.CA. against SunPower Corporation (SPWR) (“SunPower” or the “Company”), on behalf of a class consisting of all persons and entities that purchased or otherwise acquired SunPower securities between March 9, 2023 through October 24, 2023, both dates inclusive (the “Class Period”).
SunPower is a solar technology and energy services provider.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants misled investors by failing to disclose that:
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- due to a material weakness in its internal control over financial reporting, the Company had inaccurately reported cost of revenue and inventory metrics;
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- as a result of the foregoing, the Company was reasonably likely to incur significant charges to restate prior reporting; and
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- as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis, thereby harming investors.
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If you purchased SunPower securities during the Class Period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.
If you suffered a loss on your investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below.
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