According to the lawsuit, defendants made materially false and/or misleading statements and/or failed to disclose that:
- due to a material weakness in its internal control over financial reporting, SunPower had inaccurately reported cost of revenue and inventory metrics;
- as a result of the foregoing, SunPower was reasonably likely to incur significant charges to restate prior reporting; and
- 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.
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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