SHAREHOLDER ALERT: The Pomerantz Law Firm announces the filing of a class action lawsuit against Maxeon Solar Technologies, Ltd.

NEW YORK, July 10, 2024 /PRNewswire/ — Pomerantz LLP announces that a class action lawsuit has been filed against Maxeon Solar Technologies, Ltd. (“Maxeon” or the “Company”) (NASDAQ: MAXN). Investors are encouraged to contact Danielle Peyton at (email protected) or 646-581-9980 (or 888.4-POMLAW), toll-free, extension 7980. For inquiries by email, you will be asked to provide your mailing address, telephone number and the number of shares purchased.

The class action lawsuit concerns whether Maxeon and certain of its officers and/or directors engaged in securities transactions Fraud or other unlawful business practices.

You have until 26 August 2024to ask the Court to appoint you as lead plaintiff for the class if you are a shareholder who purchased or otherwise acquired Maxeon securities during the Class Period. A copy of the complaint is available atT www.pomerantzlaw.com.

(Click here for information on joining the class action lawsuit.)

At May 30, 2024Before the market opening, Maxeon announced its financial results for the first quarter of 2024 in a press release and reported a 41% year-on-year decline in revenue to 187.5 million US dollars. The company announced that it was facing “serious cash flow challenges” due in part to the termination of its supply agreement with SunPower Corp. The company announced that as a result, it was forced to “negotiate commitments for significant liquidity support,” which will result in “significant dilution to existing public shareholders, with TZE (TCL Zhonghuan Renewable Energy Technology Co. Ltd.) ultimately becoming the majority shareholder.”

Following this news, Maxeon’s share price fell $1.08 per share or 34.7% and closed at $2.03 per share on May 30, 2024.

Pomerantz LLP, with offices in new York, Chicago, Los Angeles, London, ParisAnd Tel-Avivis considered one of the leading law firms in the areas of corporate, securities and antitrust litigation. Founded by the late Abraham L. PomerantzKnown as the dean of class action lawyers, Pomerantz was a pioneer in the field of securities class action litigation. Today, more than 85 years later, Pomerantz continues the tradition he established and fights for the rights of victims of securities class action litigation. FraudBreach of fiduciary duty and corporate misconduct. The firm has won billions of dollars in damages on behalf of class action plaintiffs. See www.pomlaw.com.

Attorney advertising. Past results do not guarantee similar results.

CONTACT:
Danielle Peyton
Pomerantz LLP
(email protected)
646-581-9980 extension 7980

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