NEW YORK, June 22, 2017 (GLOBE NEWSWIRE) — The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of SunPower Corporation (“SunPower”) (NASDAQ:SPWR) between February 17, 2016 and August 9, 2016. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Northern District of California. To get more information go to:
or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that throughout the class period Defendants issued materially 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 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.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: CONTACT: Levi & Korsinsky, LLP Joseph E. Levi, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com