Current Cases

SunPower Corporation | Company Ticker: SPWRA

Date Filed: November 19, 2009
Court: U.S. District Court
Location: California

On Nov. 18, 2009, Hagens Berman Sobol Shapiro filed a class-action lawsuit against SunPower Corporation on behalf of investors who purchased either (NASDAQ:SPWRA) or (NASDAQ:SPWRB) shares of SunPower between April 17, 2008 and Nov. 16, 2009 (the "Class Period.")

The complaint, filed in the Northern District of California, alleges that the company's officers and directors violated securities laws by issuing false and misleading financial statements, press releases and SEC filings regarding the company's financial health. This week, SunPower filed a report with the SEC indicating its financial statements from 2008 and 2009 should not be relied upon due to accounting improprieties.

The announcement caused SunPower stock to drop almost 20 percent, closing at $22.19 a share on Nov. 17, 2009.

SunPower investors who purchased the company stock during the Class Period can participate in this action by clicking here, e-mailing SPWRA@hbsslaw.com or calling 510.725.3000.

If you wish to serve as lead plaintiff, you must move the Court no later Jan. 19, 2010.

Dec. 15, 2009 - SunPower released an update about its internal investigation which is conducted by the company's board of director's audit committee, with the assistance of outside legal and accounting experts. According to the statement, the investigation to date is "consistent with the preliminary findings" announced in November.