Recent Security Class Actions

SunPower Corporation Common Stock (NASDAQ: SPWR)

Company Name:SunPower Corporation Common Stock
Stock Symbol:NASDAQ: SPWR
Class Period Start:03/09/2023
Class Period End (inclusive):10/24/2023
Filing Deadline:12/26/2023

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, the Complaint alleges Defendants misled investors by failing to disclose that: (1) due to a material weakness in its internal control over financial reporting, the Company had inaccurately reported cost of revenue and inventory metrics; (2) as a result of the foregoing the Company was reasonably likely to incur significant charges to restate prior reporting; and (3) 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.