MAXN Investors Have Opportunity to Lead Maxeon Solar Technologies, Ltd. Securities Fraud Lawsuit

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Jul 01, 2024, 10:30 ET

NEW YORK, July 1, 2024 /PRNewswire/ --

Why: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of securities of Maxeon Solar Technologies, Ltd. (NASDAQ: MAXN) between November 15, 2023 and May 29, 2024, both dates inclusive (the "Class Period"). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 26, 2024.

So what: If you purchased Maxeon securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

What to do next: To join the Maxeon class action, go to https://rosenlegal.com/submit-form/?case_id=26780 mailto:or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 26, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

Details of the case: According to the lawsuit, 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 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.

To join the Maxeon class action, go to https://rosenlegal.com/submit-form/?case_id=26780 mailto:or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

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Contact Information:

      Laurence Rosen, Esq.
      Phillip Kim, Esq.
      The Rosen Law Firm, P.A.
      275 Madison Avenue, 40th Floor
      New York, NY 10016
      Tel: (212) 686-1060
      Toll Free: (866) 767-3653
      Fax: (212) 202-3827
      [email protected]
      www.rosenlegal.com

SOURCE THE ROSEN LAW FIRM, P. A.