SAN DIEGO, Nov. 27, 2009 (GLOBE NEWSWIRE) -- Robbins Umeda LLP has begun an investigation into possible mismanagement at SunPower Corporation.
The San Diego-based shareholder rights firm's investigation concerns SunPower's report on Form 8-K filed with the SEC on November 16, 2009, which disclosed that the Company's previously issued interim financial statements for each of the 2009 quarterly periods reported to date, the previously reported financial results for the fiscal year ending December 28, 2008, and certain financial information reported on Form 10-Q and Form 10-K for those periods, as well as the guidance provided by the Company for the 2009 fiscal year, should no longer be relied upon. The Company's Audit Committee is conducting an investigation into certain unsubstantiated accounting entries related to the costs of goods sold in the Company's Philippines operations.
If you purchased SunPower Corporation stock prior to April 17, 2008, and continue to hold your shares, and you would like more information about your rights as a shareholder, please contact attorney Lauren Levi at 800-350-6003 or by email at llevi@robbinsumeda.com.
Robbins Umeda is a California-based law firm, which has substantial experience representing investors in shareholder derivative and securities class actions. For more information about the firm, please go to http://www.robbinsumeda.com.
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