Core Viewpoint - Maxeon Solar Technologies, Ltd. is facing significant legal challenges and financial difficulties, including a substantial decline in revenue and a cash flow crisis, following the termination of a key supply agreement with SunPower [5][6][7]. Financial Performance - For Q1 2024, Maxeon reported a 41% year-over-year decline in revenue, amounting to $187.5 million [7]. - The company's share price fell by 34.7%, or $1.08, closing at $2.03 per share on May 30, 2024, amid unusually heavy trading volume [3]. Legal Issues - A federal securities class action has been filed against Maxeon, with a deadline of August 26, 2024, for investors to seek the role of lead plaintiff [5]. - The complaint alleges that Maxeon made materially false and misleading statements regarding its business operations and failed to disclose critical information about its reliance on sales to SunPower and the impact of the terminated supply agreement [6]. Company Challenges - The termination of the Master Supply Agreement with SunPower has led to a significant decline in sales and a serious cash flow crisis for Maxeon [6][7]. - The company is negotiating for liquidity support, which is expected to result in substantial dilution for existing shareholders, with TCL Zhonghuan Renewable Energy Technology Co. Ltd. potentially becoming a controlling shareholder [7].

Company Overview - Maxeon Solar Technologies is a global leader in solar innovation, leveraging over 35 years of experience and over 1,900 patents to design sustainable solar panels and energy solutions for various customers [2] - The company has a network of more than 1,700 trusted partners and distributors, serving over one million customers worldwide [2] Partnership Development - Solaris Renewables, a Massachusetts-based provider of premium solar and storage technologies, has been welcomed as a Maxeon Preferred Partner, offering Maxeon IBC solar panels for residential and commercial installations [4] - Solaris Renewables has over 12 years of experience with Maxeon solar panels and has built or serviced thousands of installations in the New England region [8] Customer Satisfaction and Performance - Solaris Renewables reports that Maxeon panels have the best performance, superior reliability, and aesthetics, contributing to exceptional customer satisfaction and significant word-of-mouth referrals [5] - Customers consistently report that Maxeon solutions outperform their expected payback time and projected savings, enhancing the company's business growth [5] Strategic Goals - Maxeon's partner program aims to create a trusted network of installers and dealers committed to quality and integrity, empowering them with unique product offerings to maximize profitability and customer satisfaction [5]

NEW YORK, July 21, 2024 (GLOBE NEWSWIRE) -- WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents inves ...

Core Viewpoint - A class action lawsuit has been filed against Maxeon Solar Technologies, Ltd. for allegedly misleading investors about its business prospects and financial health during a specific period [1][2]. Group 1: Allegations and Background - Maxeon Solar Technologies was spun off from SunPower in 2020, maintaining a Master Supply Agreement that restricted its sales to other customers [2]. - In mid-2023, a dispute arose between Maxeon and SunPower, with Maxeon claiming SunPower owed approximately $29 million, while SunPower alleged a breach of the non-circumvention clause [3]. - The dispute led to Maxeon ceasing shipments to SunPower in July 2023, and by November 2023, the Master Supply Agreement was terminated following a settlement [3]. Group 2: Financial Impact - On May 30, 2024, Maxeon reported a 41% year-over-year decline in revenue, totaling $187.5 million, and indicated it was facing a serious cash flow challenge due to the termination of the supply agreement [4]. - The company disclosed it needed to negotiate significant liquidity support, which would result in substantial dilution for existing shareholders, with TCL Zhonghuan Renewable Energy Technology Co. Ltd. becoming a controlling shareholder [4]. - Following this announcement, Maxeon's share price dropped by 34.7%, or $1.08, closing at $2.03 per share [4]. Group 3: Class Action Details - The complaint alleges that during the class period, Maxeon failed to disclose its reliance on exclusive sales to SunPower, its inability to ramp up sales post-termination of the agreement, and the resulting revenue decline and cash flow crisis [5]. - Shareholders interested in participating as lead plaintiffs must file motions by August 26, 2024, although participation is not required for recovery [6].

Class Definition Case Details What's Next? There is No Cost to You Why Bronstein, Gewirtz & Grossman Attorney advertising. Prior results do not guarantee similar outcomes. Contact Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Nathan Miller 332-239-2660 | info@bgandg.com This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Maxeon securities between November 15, 2023, a ...

Why: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Maxeon Solar Technologies, Ltd. (NASDAQ: MAXN) between November 15, 2023 and May 29, 2024, both dates inclusive (the "Class Period"), of the important August 26, 2024 lead plaintiff deadline. 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 ...

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NEW YORK, July 07, 2024 (GLOBE NEWSWIRE) -- WHY: New York, N.Y., July 7, 2024. 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 pu ...

Contact Information: Bragar Eagel & Squire, P.C. Brandon Walker, Esq. Marion Passmore, Esq. (212) 355-4648 investigations@bespc.com www.bespc.com NEW YORK, July 07, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, reminds investors that a class action lawsuit has been filed against Maxeon Solar Technologies, Ltd. ("Maxeon" or the "Company") (NASDAQ: MAXN) in the United States District Court for the Northern District of California on behalf of all per ...

NEW YORK, July 02, 2024 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of all persons and entities who purchased securities of Maxeon Solar Technologies, Ltd. ("Maxeon" or the "Company") (NASDAQ: MAXN) between November 15, 2023 and May 29, 2024, inclusive (the "Class Period"). Investors who purchased or otherwise acquired shares of Maxeon should contact the Fir ...