According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that:
- Maxeon relied on the exclusive sales of certain products to SunPower Corp.;
- following the termination of the Master Supply Agreement, a supply agreement between Maxeon and SunPower, Maxeon was unable to “aggressively ramp sales”;
- as a result, revenue substantially declined;
- as a result, Maxeon suffered a “serious cash flow” crisis; and
- as a result of the foregoing, defendants’ positive statements about Maxeon’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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