RADNOR, Pa., Jan. 25, 2022 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) is currently investigating potential violations of the federal securities laws on behalf of investors of SunPower Corporation (NASDAQ: SPWR) (“SunPower”).
SunPower provides solar energy solutions, including sales to its third-party dealer network and resellers, storage solutions, cash and loan sales, and long-term leases directly to end customers, and sells turn-key engineering, procurement, and construction services, as well as energy under power purchase agreements.
On January 20, 2022, SunPower issued a press release revealing that the company had "identified a cracking issue that developed over time in certain factory-installed connectors within third-party commercial equipment supplied to SunPower." As a result, SunPower reported that it "expects approximately $27 million of supplier-quality related charges in fourth quarter 2021 and approximately $4 million in the first quarter of 2022."
Following this news, SunPower's stock fell $3.22, or 16.9%, to close at $15.80 on January 21, 2022.
If you are a SunPower investor and would like to learn more about our investigation, please CLICK HERE to fill out our online form or contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453; toll free at (844) 887-9500; E-mail at info@ktmc.com. You can also click on the following link or paste it in your browser: https://www.ktmc.com/sunpower-corporation-investigation?utm_source=PR&utm_medium=link&utm_campaign=sunpower
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.
CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
280 King of Prussia Road
Radnor, PA 19087
(844) 887-9500
info@ktmc.com
