LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of SunPower Corporation (“SunPower” or the “Company”) (NASDAQ: SPWR) investors concerning the Company’s possible violations of the federal securities laws.
“expects approximately $27 million of supplier-quality related charges in fourth quarter 2021 and approximately $4 million in the first quarter of 2022”
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If you suffered a loss on your SunPower investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/sunpower-corporation-1/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.
On January 21, 2022, SunPower announced that it had “identified a cracking issue that developed over time in certain factory-installed connectors.” The Company “expects approximately $27 million of supplier-quality related charges in fourth quarter 2021 and approximately $4 million in the first quarter of 2022” to replace the faulty connectors.
On this news, SunPower’s stock fell $3.22, or 16.9%, to close at $15.80 on January 21, 2022, thereby injuring investors.
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