RADNOR, Pa., March 26, 2022 /PRNewswire/ — The law firm Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) advises investors that a class action securities lawsuit has been filed against SunPower Corporation (“SunPower”) (NASDAQ: SPWR ). The suit accuses SunPower of violations of federal securities laws, including omissions and fraudulent misrepresentations regarding the company’s business, operations and prospects. As a result of SunPower’s materially misleading statements to the public, SunPower investors suffered significant losses.
Kessler Topaz is one of the world’s foremost advocates for protecting the public from corporate fraud and other wrongdoing. Our securities fraud litigants are consistently individually recognized as leaders in the field and our firm is both feared and respected within the defense bar and the insurance bar. We are proud to have recovered billions of dollars for our clients and the classes of shareholders we represent.
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PRINCIPAL APPLICANT DEADLINE: APRIL 18, 2022
COURSE PERIOD: AUGUST 3, 2021 by JANUARY 20, 2022
CONTACT A LAWYER TO DISCUSS YOUR RIGHTS:
James Maro, Esq. at (484) 270-1453 or by email at info@ktmc.com
ALLEGED MISCONDUCT BY SUNPOWER
SunPower provides solar energy solutions, including sales to its network of third-party dealers and resellers, storage solutions, cash sales and loans, and long-term leases directly to end customers, and sells services turnkey engineering, procurement and construction, as well as energy under power purchase agreements.
At January 21, 2022, SunPower issued a press release revealing that the company had “identified a cracking issue that has developed over time in certain factory-installed connectors in third-party commercial equipment supplied to SunPower.” As a result, SunPower said it “expects approximately $27 million charges related to supplier quality in the fourth quarter of 2021 and around $4 million in the first quarter of 2022″ to replace the defective connectors.
Following this news, SunPower stock fell $3.22i.e. 16.9%, to close at $15.80 to January 21, 2022.
WHAT CAN I DO?
SunPower investors can, not later than April 18, 2022 seek to be named as the lead class representative plaintiff through Kessler Topaz Meltzer & Check, LLP or another attorney, or may choose to do nothing and remain an absentee class member. Kessler Topaz Meltzer & Check, LLP encourages SunPower investors who have suffered significant losses to contact the company directly for more information.
CLICK HERE TO REGISTER FOR THE CASE
WHO CAN BE A PRINCIPAL APPLICANT?
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead applicant is usually the investor or small group of investors who have the greatest financial interest and who are also adequate and typical of the category of investors proposed. The lead plaintiff chooses an attorney to represent the lead plaintiff and the class and those attorneys, if approved by the court, are the lead or class attorneys. Your ability to participate in any collection is not affected by whether or not to serve as lead plaintiff.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP
Kessler Topaz Meltzer & Check, LLP is filing class actions in state and federal courts nationwide and around the world. The company has developed a worldwide reputation for excellence and has recovered billions of dollars for victims of fraud and other malpractice. All of our work is guided by a common goal: to protect investors, consumers, employees and others from fraud, abuse, corporate and fiduciary misconduct and negligence. In the end, we were successful if the bad guys pay and you get your assets back. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.
CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
(484) 270-1453
280 King of Prussia Road
Radnor, Pennsylvania 19087
(484) 270-1453
info@ktmc.com
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SOURCE Kessler Topaz Meltzer & Check, LLP
