BOULDER, Colo., Nov. 18, 2009 (GLOBE NEWSWIRE) -- Advertising Material -- The Shuman Law Firm today announced that it is investigating SunPower Corp. ("SunPower" or the "Company") (Nasdaq:SPWRA) for possible violations of the federal securities laws.
On November 16, 2009, SunPower announced that, because of apparent accounting irregularities, 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.
When this news was revealed, SunPower shares fell almost 20 percent in trading on November 17, 2009, dropping from the closing price of $27.23 to less than $22 per share during intra-day trading.
If you are interested in discussing your rights as a SunPower shareholder, or have information relating to this investigation, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 974-8626 or email Mr. Shuman at kip@shumanlawfirm.com or Mr. Glenn at rusty@shumanlawfirm.com.
The Shuman Law Firm represents investors throughout the nation, concentrating its practice in securities class actions and shareholder derivative actions.
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