SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of SunPower Corporation - SPWR
NEW YORK, Nov. 14, 2022 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of SunPower Corporation (""SunPower" or the "Company") (NASDAQ: SPWR). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether SunPower and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On October 11, 2022, Bank of America downgraded SunPower shares to Underperform from Neutral, citing "underappreciated risks that panel constraints outside [SunPower spin-off Maxeon Solar's] channels impact revenue recognition . . . exacerbating the company's challenged history of execution." The Bank of America analyst also expressed "confus[ion]" regarding SunPower's power sourcing strategy, stating that it "dubiously sacrificed exclusivity for flexibility at the start of the year."
On this news, SunPower's stock price fell $1.16 per share, or 5.4%, to close at $20.31 per share on October 11, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP
