NEW YORK, March 04, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors in SunPower Corporation (“SunPower” or the “Company”) (NASDAQ: SPWR). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529 ext. 7980.
The investigation focuses on whether SunPower and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.
[Click here for information about joining the class action]
On January 20, 2022, SunPower announced that it had “identified a cracking issue that has developed over time in certain factory-installed connectors” and that the company “anticipates approximately $27 million in charges related to the supplier quality in Q4 2021 and approximately $4 million in Q1 2022” to replace failed connectors.
On this news, SunPower’s stock price fell $3.22 per share, or 16.9%, to close at $15.80 per share on January 21, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading firms in the areas of corporate litigation, securities and antitrust. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he established, fighting for the rights of victims of securities fraud, breaches of fiduciary duty and corporate misconduct. The firm recovered numerous multimillion-dollar damages on behalf of class members. To see www.pomlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980