SPWR SHAREHOLDER ALERT: The Law Offices of Vincent Wong Notifies Investors of Commencement of a Class Action Involving SunPow...
October 05 2016 - 9:36AM
Business Wire
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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20161005005804/en/
The Law Offices of Vincent WongVincent Wong, Esq.,
212-425-1140Fax: 866-699-3880vw@wongesq.com
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