| Company: | Sunpower Corporation |
| Ticker Symbol: | SPWRB |
| Class Period: | Apr-17-08 to Nov-16-09 |
| Date Filed: | Nov-19-09 |
| Lead Plaintiff Deadline: | Jan-18-10 |
| Court: | Northern District of California |
| Allegations: | |
Sunpower is a vertically integrated solar products and services company that designs, manufactures and markets high-performance solar electric power technologies. The Complaint alleges that during the Class Period, defendants reported unsubstantiated accounting entries relating to cost of goods sold in connection with its Philippines operations. This violated generally accepted accounting principles "GAAP" and SEC rules.
On November 16, 2009, after the market closed, Sunpower filed a report on Form 8-K with the SEC stating that, because of accounting improprieties, the Company's previously issued interim financial statements for each of the 2009 quarterly periods, the previously reported financial results for the fiscal year ending December 28, 2008, the financial information in its quarterly reports on Form 10-Q for the 2009 quarters, the financial information in the 2008 annual report on Form 10-K, and the guidance provided by the Company for the 2009 fiscal year, should no longer be relied upon. On this news, Sunpower's stock price fell.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
