Maxeon Solar Technologies, Ltd.

On October 18, 2024, United States District Judge Edward M. Chen of the Northern District of California appointed Faruqi & Faruqi, LLP, as sole lead counsel in Wayne v. Maxeon Solar Technologies, Ltd., et al., 24-cv-03869-EMC. The suit centers on allegations that Defendants made false and misleading representations regarding and/or failed to disclose that (1) Maxeon relied on the exclusive sales of certain products to SunPower, the company from which Maxeon spun off in 2020, pursuant to a Master Supply Agreement; (2) that, following the termination of the Master Supply Agreement, the Company was unable to “aggressively ramp sales” as it claimed; (3) that, as a result, its revenue substantially declined; (4) that, as a result, the Company suffered a “serious cash flow” crisis; and (5) that, 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.

For further inquiries regarding this matter, please contact James M. Wilson, Jr. at jwilson@faruqilaw.com or (212) 983-9330. 

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.