ROSEN, Leading Investor Counsel, Encourages Maxeon Solar Technologies, Ltd. Investors to Secure Their Rights in Class Action Lawsuit
Rosen Law Firm, a global investor rights law firm, has initiated a class action lawsuit on behalf of purchasers of securities from Maxeon Solar Technologies, Ltd. (NASDAQ: MAXN), covering the period between November 15, 2023, and May 29, 2024, inclusive (the “Class Period”). The lawsuit has been filed to address concerns over alleged false and misleading statements made by the company and to recover damages for affected investors.
Eligibility for Compensation
Investors who bought Maxeon securities during the designated Class Period might be eligible for compensation without the necessity of paying any out-of-pocket fees or costs, through a contingency fee arrangement. This action represents an important opportunity for shareholders to seek justice and potentially recover their losses from investments in Maxeon Solar Technologies.
Next Steps for Investors
Shareholders who have invested in Maxeon and incurred losses are urged to take action to potentially participate in the class action lawsuit. While a class action lawsuit has already been filed, investors still have the opportunity to move the Court for lead plaintiff status until the deadline on August 26, 2024. The role of a lead plaintiff involves acting on behalf of other class members in directing the class-action lawsuit.
The Allegations Against Maxeon
The lawsuit alleges that Maxeon Solar Technologies and certain of its executives made false and/or misleading statements and/or failed to disclose critical information regarding its business operations and prospects. Specifically, it is claimed that:
- Maxeon excessively relied on the sales of specific products to SunPower Corp.
- After the termination of their Master Supply Agreement, Maxeon was unable to “aggressively ramp sales” as it had anticipated.
- This led to a substantial decline in revenue.
- Consequently, Maxeon experienced a “serious cash flow” crisis.
- Thus, the positive statements about Maxeon’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
As a result of these actions, when the true details were revealed to the market, it is alleged that investors suffered damages, prompting the lawsuit to recover those losses.
Why Choose ROSEN Law?
When selecting legal counsel, it’s crucial for investors to choose a firm with a strong track record of success in securing substantial recoveries and leading significant class action lawsuits. ROSEN Law Firm fits these criteria, providing global representation for investors and concentrating its practice in securities class actions and shareholder derivative litigation. With notable achievements in securing the largest securities class action settlement against a Chinese Company and consistently being ranked top by ISS Securities Class Action Services, ROSEN Law Firm demonstrates the experience, recognition, and resources to effectively represent investors in high-stakes legal battles.
This lawsuit presents a pivotal opportunity for investors who suffered losses in Maxeon Solar Technologies to step forward and seek compensation. The outcome of this legal battle could not only potentially recover financial losses but also reinforce the message about corporate transparency and accountability.
Investors interested in joining the class action lawsuit against Maxeon Solar Technologies are encouraged to move promptly given the looming August 26, 2024 deadline to apply for the position of lead plaintiff.
No class has yet been certified in the case. Interested investors are informed that choosing to do nothing at this juncture does not preclude participation in any potential future recovery. This situation underlines the possibility for affected shareholders to make a crucial decision regarding their involvement in this case.
