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SunPower Corp.

Class Period: Apr 17, 2008 to Nov 16, 2009

Lead Plaintiff Deadline: Jan 18, 2010 + Deadline passed

Summary of Case:

A securities class action has been filed against SunPower Corp. (SPWRA; SPWRB) ("SunPower" or the "Company") on behalf of all securities purchasers from April 17, 2008 through November 16, 2009, inclusive ("Class Period"), in the United States District Court for the Northern District of California.

The complaint alleges that throughout the Class Period, defendants issued materially false and misleading financial statements, press releases and SEC filings. Specifically, the financial statements and information issued by SunPower in its press releases, quarterly reports for 2008 and 2009 and annual report for the fiscal year 2008 were false and misleading because defendants included unsubstantiated accounting entries related to cost of goods sold in Sun's Philippines operations and false and misleading certifications, required by the Sarbanes-Oxley Act of 2002, attesting to the accuracy of Sun's financial statements and the adequacy of its internal controls over financial reporting. As a result of defendants' false and misleading statements, Sun securities traded at artificially inflated prices during the Class Period.

On November 16, 2009, after the market closed, Sun 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 2009 quarterly reports on Form 10-Q and its 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, Sun's stock fell 19% to close at $22.19 per share on November 17, 2009.

If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.