SunPower Corporation : Class A and B Common Stock

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SunPower Corporation : Class A and B Common Stock Summary: According to a press release dated November 18, 2009, the complaint alleges that throughout the Class Period, defendants issued materially false and misleading financial statements, press releases and SEC filings. Specifically, the financial statements and information issued by the Company in its press releases, quarterly reports for 2008 and 2009 and annual report for the fiscal year 2008 were false and misleading because defendants included unsubstantiated accounting entries related to cost of goods sold in Sun’s Philippines operations and false and misleading certifications, required by the Sarbanes-Oxley Act of 2002, attesting to the accuracy of Sun’s financial statements and the adequacy of its internal controls over financial reporting. As a result of defendants’ false and misleading statements, Sun securities traded at artificially inflated prices during the Class Period.

On November 16, 2009, after the market closed, Sun filed a report on Form 8-K with the SEC stating that because of accounting improprieties, 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 2009 quarterly reports on Form 10-Q and its 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. On this news, Sun’s stock fell 19% to close at $22.19 per share on November 17, 2009.

On February 3, 2010, Judge Charles R. Breyer granted the motion to consolidated all the related cases. On March 5, 2010, Judge Breyer granted the motion to appoint the Institutional Investor Funds as lead plaintiff. Bernstein Litowitz Berger & Grossman and Kaplan Fox & Kilsheimer have been approved as lead counsel. On May 28, 2010, the lead plaintiffs filed a Consolidated Complaint, adding company directors and underwriters as named defendants in the action. Lead plaintiffs also added claims pursuant to §§11(a) and 15 of the Securities Act of 1933.

On August 5, 2010, the defendants filed various motions to dismiss the Consolidated Complaint. On March 1, 2011, the motions to dismiss were granted with leave to amend. The plaintiffs have 20 days to file an amended complaint.

On April 18, 2011, the plaintiffs filed a First Amended Consolidated Class Action Complaint, naming additional insiders of the company as defendants in the action. The defendants filed a motion to dismiss on May 23, 2011. The motion was granted in part and denied in part on December 19, 2011.

INDUSTRY CLASSIFICATION:
SIC Code: 3674
Sector: Technology
Industry: Semiconductors

COMPANY/ISSUER NAME:	SunPower Corporation
COMPANY/ISSUER TICKER:	SPWRA
COMPANY WEBSITE:	http://www.sunpowercorp.com

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Harry W. Plichta, et al. v. SunPower Corporation, et al.

COURT: N.D. California	DOCKET NUMBER: 09-CV-05473
JUDGE NAME: Hon. Charles R. Breyer
DATE FILED: 11/18/2009	SOURCE:
CLASS PERIOD START: 04/17/2008	CLASS PERIOD END: 11/16/2009
TYPE OF COMPLAINT: Complaint (Unamended and Unconsolidated)
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Coughlin Stoia Geller Rudman & Robbins LLP (San Diego) 655 West Broadway, Suite 1900, San Diego, CA, 92101 (voice) 619.231.1058, (fax) 619.231.7423, info@csgrr.com/ Coughlin Stoia Geller Rudman & Robbins LLP (San Francisco) 100 Pine Street, Suite 2600, San Francisco, CA, 94111 (voice) 415.288.4545, (fax) 415.288.4534, Law Offices of Bernard M. Gross (Philadelphia) John Wanamaker Building; 100 Penn Square East, Suite 450, Philadelphia, PA, 19107 (voice) 215.561.3600, (fax) 215.561.3600, susang@bernardmgross.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 3

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Complaint For Violation Of The Federal Securities Laws
Type: Complaint		Date on the document: 11/18/2009
Certificate Of Arthur N. Abbey Pursuant To Local Rule 3-7(d)
Type: Other		Date on the document: 01/19/2010
Certificate Of Joy A. Kruse Pursuant To Local Rule 3-7(d)
Type: Other		Date on the document: 01/19/2010
Certificate Of Nancy Kaboolian Pursuant To Local Rule 3-7(d)
Type: Other		Date on the document: 01/19/2010
Certificate Of Richard M. Heimann Pursuant To Local Rule 3-7(d)
Type: Other		Date on the document: 01/19/2010
Certification Of Counsel Joseph J. Tabacco, Jr. Pursuant To Civil Local Rule 3-7(D)
Type: Other		Date on the document: 01/19/2010
Certification Of Counsel Nicole Lavallee Pursuant To Civil Local Rule 3-7(D)
Type: Other		Date on the document: 01/19/2010
Certification Of Interested Parties Pursuant To Civil Local Rule 3-16
Type: Other		Date on the document: 01/19/2010
Certification Of Interested Parties Pursuant To Civil Local Rule 7.1-1
Type: Other		Date on the document: 01/19/2010
Declaration Of Joy A. Kruse In Support Of The Pembroke Pines Pension Fund Motion To Consolidate All Related Actions; To Be Appointed Lead Plaintiff; And For Approval of Lead Plaintiff's Selection Of Lead Counsel
Type: Other		Date on the document: 01/19/2010
Declaration Of Nicole Lavallee In Support of The Motion Of Austin Police Retirement System To Consolidate Related Actions, For Appointment As Lead Plaintiff And For Approval Of Its Selection Of Lead Counsel
Type: Other		Date on the document: 01/19/2010
Notice Of Motion, Motion And Memorandum Of Points And Authorities In Support Of The Motion Of The Austin Police Retirement System To Consolidate Related Actions, For Appointment As Lead Plaintiff And For Approval Of Its Selection Of Lead Counsel
Type: Notice		Date on the document: 01/19/2010
Proof Of Service
Type: Other		Date on the document: 01/19/2010
Proof Of Service Via ECF And U.S. Mail
Type: Other		Date on the document: 01/19/2010
[Proposed] Order Consolidating Related Actions, Appointing Lead Plaintiff And Approving Lead Plaintiff's Selection Of Counsel
Type: Order of Consolidation		Date on the document: 01/19/2010
[Proposed] Order Granting Motion Of The Pembroke Pines Pension Fund Consolidating All Related Actions; To be Appointed As Lead Plaintiff; And For Approval Of lead Plaintiff's Selection Of Lead Counsel
Type: Order of Consolidation		Date on the document: 01/19/2010
Related Case Order
Type: Order of Consolidation		Date on the document: 02/03/2010
Memorandum Concerning The Austin Police Retirement System's Motion To Consolidate Related Actions, For Appointment As Lead Plaintiff And For Approval Of Its Selection Of Lead Counsel
Type: Memorandum		Date on the document: 02/10/2010

REFERENCE COMPLAINT

In Re Sunpower Securities Litigation

COURT: N.D. California	DOCKET NUMBER: 09-CV-05473
JUDGE NAME:
DATE FILED: 04/18/2011	SOURCE:
CLASS PERIOD START: 04/17/2008	CLASS PERIOD END: 11/16/2009
TYPE OF COMPLAINT: First Amended and Consolidated
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Barroway Topaz Kessler Meltzer & Check, LLP (San Francisco) 580 California Street, Suite 1750, San Francisco, CA, 94104 (voice) 415.400.3000, (fax) 415.400.3000, info@btkmc.com Bernstein Litowitz Berger & Grossmann LLP (San Diego) 12481 High Bluff Drive, Suite 300, San Diego, CA, 92130 (voice) 858.793.0070, (fax) 858.793.0323, blbg@blbglaw.com Kaplan Fox & Kilsheimer, LLP (New York) 850 Third Avenue, 14th Floor, New York, NY, 10022 (voice) 212.687.1980, (fax) 212.687.1980, Kaplan Fox & Kilsheimer, LLP (San Francisco, CA) 100 Pine Street, 26th Floor, San Francisco, CA, 94111 (voice) 415.772.4700, (fax) 415.677.1233, info@kaplanfox.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 4

DOCUMENTS FOR THE REFERENCE COMPLAINT
Consolidated Complaint For Violation Of Federal Securities Laws
Type: Complaint		Date on the document: 05/28/2010
Order Granting Motion To Dismiss
Type: Order		Date on the document: 03/01/2011
Order Re Consolidation
Type: Order of Consolidation		Date on the document: 04/04/2011
First Amended Consolidated Class Action Complaint For Violations Of The Federal Securities Laws
Type: Complaint		Date on the document: 04/18/2011
Order Granting in Part and Denying in Part Motion to Dismiss
Type: Order		Date on the document: 12/19/2011
U.S. District Court Civil Docket
Type: Docket		Date on the document: 12/19/2011

OTHER DOCUMENTS
Class Action Complaint For Violations Of Federal Securities Laws
Case Name and/or Number: Harry W. Plichta, et al. v. SunPower Corporation, et al.
Type: Complaint		Date on the document: 11/18/2009
Class Action Complaint for Violations of Federal Securities Laws - Demand for Jury Trial
Case Name and/or Number: Steven Parrish, et al. v. SunPower Corporation, et al.
Type: Complaint		Date on the document: 11/20/2009

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