NEW YORK, Sept. 28, 2016 /PRNewswire/ -- The Law
Offices of Vincent Wong announce
that a class action lawsuit has been commenced in the USDC for the
Northern District of California on
behalf of investors who purchased SunPower Corporation (NASDAQ:
SPWR) securities between February 17,
2016 and August 9, 2016.
Click here to learn about the case:
http://www.wongesq.com/pslra/sunpower-corporation. There is
no cost or obligation to you.
According to the complaint, SunPower made false and/or
misleading statements and/or failed to disclose that: (1) a
substantial number of the Company's customers were adopting a
longer-term timeline for project completion; (2) the Company'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 the Company's assumptions related
to monetizing deferred profits; (4) as such, demand for the
Company's products was significantly declining; and (5) in
response, the Company would implement a manufacturing realignment
that would result in significant restructuring charges.
On August 9, 2016, SunPower
announced it would decrease its fiscal year 2016 guidance from a
net income of between $0 and $50
million, to a net loss of between $175 and $125 million.
If you suffered a loss in SunPower you have until
October 17, 2016 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. To
obtain additional information, contact Vincent Wong, Esq. either via email
vw@wongesq.com, by telephone at 212.425.1140, or visit
http://www.wongesq.com/pslra/sunpower-corporation.
Vincent Wong, Esq. is an
experienced attorney that has represented investors in securities
litigations involving financial fraud and violations of shareholder
rights. Attorney advertising. Prior results do not guarantee
similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
Fax. 866.699.3880
E-Mail: vw@wongesq.com
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SOURCE The Law Offices of Vincent
Wong