Initial Lawsuit
First Complaint - 02/16/2022This is a class action on behalf of persons and entities that purchased or otherwise acquired SunPower securities between August 3, 2021 and January 20, 2022, inclusive.
- Filing Date
02/16/2022 - Class Period
08/03/2021 to 01/20/2022 - Transgression
Securities Violation - Filing Firms
Glancy Prongay & Murray LLP
Law Offices of Howard G. Smith - Case Title
Jaszczyszyn v. Sunpower Corporation - Docket Number
3:22-cv-00956 - Court
California Northern District Court - Free File
Complaint
Allegations
According to the complaint, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, defendants allegedly failed to disclose to investors:
(1) that certain connectors used by SunPower suffered from cracking issues;
(2) that, as a result, the company was reasonably likely to incur costs to remediate the faulty connectors;
(3) that, as a result of the foregoing, SunPower’s financial results would be adversely impacted; and
(4) that, as a result of the foregoing, defendants’ positive statements about the company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Defendants
- Company
SunPower Corporation - Chief Executive Officer
Peter Faricy - Chief Financial Officer
Manavendra S. Sial
