Rosen Law Firm, a global investor rights law firm, reminds investors that a shareholder filed a class action on behalf of all purchasers of securities of Maxeon Solar Technologies, Ltd. (NASDAQ: MAXN) between November 15, 2023 and May 29, 2024. Maxeon describes itself as a “manufacturer and marketer of solar technology.”
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The Allegations: Rosen Law Firm is Investigating the Allegations that Maxeon Solar Technologies, Ltd. (NASDAQ: MAXN) Misled Investors Regarding its Business Operations.
According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Maxeon relied on the exclusive sales of certain products to SunPower Corp.; (2) following the termination of the Master Supply Agreement, a supply agreement between Maxeon and SunPower, Maxeon was unable to “aggressively ramp sales”; (3) as a result, revenue substantially declined; (4) as a result, Maxeon suffered a “serious cash flow” crisis; and (5) as a result of the foregoing, defendants’ positive statements about Maxeon’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
What Now: You may be eligible to participate in the class action against Maxeon Solar Technologies, Ltd. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by August 26, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Rosen Law: Some law firms issuing releases about this matter do not actually litigate securities class actions; Rosen Law Firm does. A recognized leader in shareholder rights litigation, the attorneys and staff of Rosen Law Firm have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing. Since our inception, we have obtained over $1 billion for shareholders.
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