NEW YORK, Nov. 17, 2009 (GLOBE NEWSWIRE) -- Roy Jacobs & Associates announces that it is investigating possible claims for the violation of the federal securities laws on behalf of purchasers of the common stock of SunPower Corp. ("SunPower" or the "Company") (Nasdaq:SPWRA) (Nasdaq:SPWRB) during the period from January 1, 2008 through November16, 2009.
For further information, please contact Roy L. Jacobs, Esq. toll-free at 1-888-884-4490 or by e-mail to rjacobs@jacobsclasslaw.com.
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. In 2009 alone, SunPower sold approximately $430 million in stock and debt securities to investors.
When this news was revealed, SunPower shares plummeted 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 purchased SunPower common stock: (i) during the period from January 1, 2008 through November 16, 2009, and have suffered a loss, whether or not you still hold you shares and/or (ii) during the 2008-2009 period and still hold your shares, and you are interested in discussing your rights free of charge, please contact Roy L. Jacobs. Mr. Jacobs will be glad to personally speak with you.