Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Aug. 22, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Maxeon Solar Technologies, Ltd. (“Maxeon” or “the Company”) (NASDAQ: MAXN) investors that a lawsuit filed on behalf of investors that purchased Maxeon securities between November 15, 2023 and May 29, 2024. Investors must file a lead plaintiff motion by August 26, 2024.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
On May 10, 2024, FutureFuel disclosed in a filing with the U.S. Securities and Exchange Commission that it “has identified a correction required to be made to its historical consolidated statements of cash flows.”
The complaint filed in this lawsuit alleges that Defendants made materially false and/or misleading statements. Specifically, Defendants failed to disclose to investors: (1) that Maxeon relied on the exclusive sales of certain products to SunPower; (2) that, following the termination of the Master Supply Agreement, the Company was unable to "aggressively ramp sales"; (3) that, as a result, revenue substantially declined; (4) that, as a result, the Company suffered a "serious cash flow" crisis; and (5) that, 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.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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