| COMPANY |
Maxeon Solar Technologies, Ltd. |
| COURT |
United States District Court for the Northern District of California |
| CASE NUMBER |
24-cv-03869 |
| JUDGE |
The Hon. Edward Milton Chen |
| CLASS PERIOD |
November 15, 2023 through May 29, 2024 |
| SECURITY TYPE |
Securities |
LEAD PLAINTIFF DEADLINE IS AUGUST 26, 2024.
If you have suffered losses and would like to discuss your rights, please fill out this form or you may contact Jonathan Naji, Esq. at (484) 270-1453 or via e-mail at info@ktmc.com.
Case Background:
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company's business, operations, and prospects. Specifically, the complaint alleges that Defendants failed to disclose to investors that: (1) Maxeon relied on the exclusive sales of certain products to SunPower; (2) following the termination of the Master Supply Agreement, the company was unable to "aggressively ramp sales"; (3) as a result, revenue substantially declined; (4) as a result, the company suffered a "serious cash flow" crisis; and (5) as a result of the foregoing, Defendants' positive statements about the company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
What is a Lead Plaintiff?
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Filling out the online form above or communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.