The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who purchased SunPower Corporation (NASDAQ : SPWR) securities between February 17, 2016 and August 9, 2016.
According to the complaint, throughout the Class Period defendants 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 a result, demand for the Company's products was significantly decreasing; (5) in response, SunPower would implement a manufacturing realignment that would result in significant restructuring charges; and (6) consequently, the Company's fiscal year 2016 guidance was overstated.
If you suffered a loss in SunPower Corporation you have until July 21, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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