An investigation for investors in SunPower Corporation (NASDAQ:SPWR) shares over potential securities laws violations by SunPower was announced and NASDAQ:SPWR stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 08/16/2016 -- SunPower Corporation is under investigation over potential securities laws violations. The investigation was announced on behalf of investors in NASDAQ:SPWR shares in connection certain financial statements made by SunPower Corporation.
Investors who purchased shares of SunPower Corporation (NASDAQ:SPWR), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The investigation by a law firm focuses on whether a series of statements by SunPower regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On August 9, 2016, SunPower Corporation announced its second quarter 2016 financial results. While the Company met expectations on certain financial figures, SunPower also forecast poor performance in the coming quarters. SunPower Corporation stated in relevant part, "we see a number of near-term industry challenges, primarily in our power plant segment, that we expect to impact our business and financial performance in the second half of 2016. The extension of the Investment Tax Credit, as well as the bonus depreciation credit, while beneficial to the long-term health of the industry, has reduced the urgency to complete new solar projects by the end of 2016, with many customers adopting a longer-term timeline for project completion. Additionally, near-term economic returns have deteriorated due to aggressive PPA pricing by new market entrants, including a number of large, global independent power companies." Shares of SunPower Corporation (NASDAQ:SPWR) declined from $30.77 per share in December 2015 to as low as $10.05 per share on August 11, 2016.
On August 15, 2016, NASDAQ:SPWR shares closed at $10.77 per share.
Those who purchased shares of SunPower Corporation have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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