NEW YORK, June 19, 2017 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against SunPower Corporation (“SunPower” or the “Company”) (NASDAQ:SPWR) and certain of its officers, on behalf of shareholders who purchased SunPower securities between February 17, 2016, and August 9, 2016, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: http://www.bgandg.com/spwr.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made materially false and 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; (6) consequently, the Company’s fiscal year 2016 guidance was overstated; and (7) therefore, Defendants’ statements about SunPower’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: http://www.bgandg.com/spwr or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. 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.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.