MAXN - MAXEON ALERT: Bragar Eagel & Squire P.C. Announces that a Class Action Lawsuit Has Been Filed Against Maxeon Solar Technologies Ltd. and Encourages Investors to Contact the Firm | Benzinga
NEW YORK, June 29, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces 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 persons and entities who purchased or otherwise acquired Maxeon securities between November 15, 2023 and May 29, 2024, both dates inclusive (the "Class Period"). Investors have until August 27, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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On May 30, 2024, before the market opened, Maxeon announced financial results for first quarter 2024 in a press release, reporting a 41% year-over-year decline in revenue to $187.5 million. The Company disclosed that it was "facing a serious cash flow challenge" as the result of, in ...