SHAREHOLDER ACTION REMINDER: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Maxeon

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].