NEW ORLEANS, March 15, 2022 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until April 18, 2022 to file lead plaintiff applications in a securities class action lawsuit against SunPower Corporation (NasdaqGS: SPWR), if they purchased the Company’s securities between August 3, 2021 and January 20, 2022, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of California.
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SunPower investors should visit us at https://claimsfiler.com/cases/nasdaq-spwr-1/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
SunPower and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On January 20, 2022, the Company disclosed that it had “identified a cracking issue that developed over time in certain factory-installed connectors” and that replacement of the connectors would cause the Company to incur “approximately $27 million of supplier-quality related charges in fourth quarter 2021 and approximately $4 million in the first quarter of 2022.”
On this news, shares of SunPower fell $3.22 per share, or 16.9%, to close at $15.80 per share on January 21, 2022, on unusually heavy trading volume.
The case is Jaszczyszyn v. SunPower Corporation, et al., No. 22-cv-956.
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