SunPower sued for securities fraud for misleading investors

SunPower Corporation (NASDAQ:SPWR)

HENDERSONVILLE, TN, UNITED STATES, February 22, 2022 /EINPresswire.com/ -- The Law Offices of Timothy L. Miles, who has been leading the fight to protect shareholder rights for over 20 years, informs investors that a shareholder filed a class action on behalf of persons or entities that purchased or otherwise acquired SunPower Corporation (NASDAQ:SPWR) securities between August 3, 2021 and January 20, 2022, for violations of the Securities Exchange Act of 1934. SunPower is a solar energy company. The SunPower class action lawsuit was commenced on February 16, 2022 in the Northern District of California and is captioned Jaszczyszyn v. SunPower Corporation, No. 22-cv-00956.

If you suffered losses as a result of SunPower’s misconduck, click here.

Case Allegations

SunPower Corporation (SPWR) Failed to Disclose Certain of its Connectors Suffered from Cracking Issues.

According to the complaint, on January 20, 2022, SunPower announced it had "identified a cracking issue that developed over time in certain factory-installed connectors." The Company "expects approximately $27 million of supplier-quality related charges in the fourth quarter 2021 and approximately $4 million in the first quarter of 2022" to replace faulty connectors. On this news, shares of SunPower stock fell $3.22, or almost 17%, to close at $15.80 per share on January 21, 2022.

If you purchased shares of SunPower Corporation (SPWR) between August 3, 2021 and January 20, 2022, you have until April 18, 2022, to ask the court to appoint you lead plaintiff for the class. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery.
SunPower Shareholders Are Urged to Call the Firm

If you purchased SunPower securities, have information, or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Timothy L. Miles, Esquire, Toll-Free at 855-846-6529, or by email to tmiles@timmileslaw.com. If you inquire by email please include your mailing address, telephone number, and the number and dates of shares purchased.

About Timothy L. Miles

Timothy L. Miles is a nationally recognized shareholder rights attorney from Nashville, Tennessee. Mr. Miles maintains the AV Preeminent Rating by Martindale-Hubbell, their highest rating for both legal ability and ethics, and is a is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, and is also a supurb rated attorney by Avvo, and the only class action lawyer in Nashville with an Avvo rating of 10, their highest rating available. Awards: Member of the Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association (2017-2019); AV^® Preeminent™ Rating by Martindale-Hubble^® (2014-2019); PRR AV Preeminent Rating on Lawyers.com (2017 & 2019); The Top-Rated Lawyer in Litigation™ for Ethical Standards and Legal Ability (Martindale-Hubble^® 2015); Superb Rated Attorney (Avvo); Avvo Top Rated Lawyer for 2017 & 2018 (Avvo); Distinguished Lawyer (Lawyers of Disinction, 2019); America's Most Honored Professionals 2018 - Top 1% (The American Registry 2016-2018).

Contact:
Timothy L. Miles, Esq.
Law Offices of Timothy L. Miles
124 Shiloh Ridge
Hendersonville, TN 37075
Telephone: (855-846-6529)
Email: tmiles@timmileslaw.com Website: www.classactionlawyertn.com

SOURCE: The Law Offices of Timothy L. Miles

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