SunPower Wins Dismissal of Investor Suit Over Defects (1)

A federal judge dismissed a shareholder lawsuit against SunPower Corp. alleging the solar energy company hid information about product defects.

Investors sued after Richmond, Calif.-based SunPower said in January 2022 it expected to record up to $31 million in charges to replace connectors that cracked. The lawsuit said SunPower had concealed the defects and the risk of related costs, misleading investors.

Absent from the complaint, however, are allegations that SunPower knew of the defects before January 2022, Judge Araceli Martínez-Olguín in the US District Court for the Northern District of California said in a Wednesday opinion.

“While Plaintiff argues ...