SunPower Escapes Investor Lawsuit Over Product Defect Claims

SunPower Corp. beat an investor suit alleging the solar energy company concealed product defect issues, a federal judge ruled.

The third amended consolidated class action complaint from lead plaintiff, Steamfitters Local 449 Pension & Retirement Security Funds, failed to state a claim to bring Securities Exchange Act violations, said Judge Araceli Martínez-Olguín for the US District Court for the Northern District of California. The judge dismissed the suit without letting the group re-plead, the judge said on Feb. 14 following a third amended complaint.

“Plaintiff again fails to proffer anything that supports Defendants’ knowledge of the cracking defect in ...