Governance & Derivative

SunPower Corporation (NasdaqGS: SPWR)

Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into SunPower Corporation (NasdaqGS: SPWR).  

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.”

Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period, violating federal securities laws, which remains ongoing. 

KSF’s investigation is focusing on whether SunPower’s officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.  If you have information that would assist KSF in its investigation, or have been a long-term holder of SunPower shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com), or fill out the form on this page.