July 3, 2013 - The court approved the settlement, entered the orders approving the plan of allocation, the motion for attorneys’ fees and expenses, and dismissed the action with prejudice.
March 25, 2013 - The court preliminarily approved the settlement.

February 1, 2013 - Parties filed a stipulation of settlement.

December 19, 2011 - The court granted in part and denied in part the defendants' motion to dismiss.

May 23, 2011 - The defendants filed a motion to dismiss.

April 18, 2011 - The lead plaintiffs filed an amended consolidated complaint.

March 1, 2011 - The court granted the defendants' motions to dismiss and granted lead plaintiffs leave to file an amended complaint.

August 5, 2010 - The defendants filed motions to dismiss.

May 28, 2010 - The lead plaintiffs filed a consolidated complaint.

March 5, 2010 - The lead plaintiffs and lead counsel were appointed and all cases were consolidated.

January 19, 2010 - Lead plaintiff motions were filed.

November 20, 2010 - An additional investor filed a complaint.

November 18, 2010 - Another investor filed a complaint.

November 18, 2009 - An investor in class A and class B common stock of SunPower Corporation (NASDAQ: SPWRA, NASDAQ: SPWRB) filed a lawsuit in the U.S. District Court for the Northern District of California against SunPower Corporation over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between April 17, 2008 and November 16, 2009.

According to the complaint the plaintiff alleges that SunPower Corporation and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing between April 17, 2008 and November 16, 2009 materially false and misleading financial statements, press releases and SEC filings. Then on November 16, 2009, after the market closed, SunPower Corporation disclosed an internal investigation by its Audit Committee of the company’s accounting relating to the cost of goods sold at SunPower Corporation's Philippine manufacturing operations.

The November 16, 2009 press release states, among other things, as follows:

“Based upon the preliminary findings of the ongoing investigation, the Audit Committee to date has identified accounting entries in the Philippines that may have overstated expenses in its cost of goods sold of approximately $1 million in the first quarter ending March 29, 2009, and understated expenses in its cost of goods sold of approximately $14 million in the second quarter ending June 28, 2009 and approximately $2 million in the third quarter ending September 27, 2009. If the preliminary investigation findings prove to be final, they could impact the company’s previously reported interim 2009 financial results. The company is also in the process of evaluating the financial impact of these adjustments on its previously reported results for the fiscal year and interim periods ended December 28, 2008. The company currently estimates that approximately $9 million of the identified accounting entries should have been recorded in 2008.”

On November 16, 2009, SunPower Corporation also filed a Form 8-K with the SEC, which states that the financial statements and 10-Qs for each of the 2009 quarterly periods, the previously reported year-end financial results and 10-K for the year ended December 28, 2008, as well as the guidance provided by SunPower Corporation for the 2009 fiscal year “should no longer be relied upon.” Additionally the Form 8-K states as follows: ”SunPower Corporation and Audit Committee are also evaluating whether the accounting issues under investigation were the result of one or more material weaknesses in the operation of SunPower Corporation’s internal controls over financial reporting.” On November 17, 2009, SunPower Corporation’s Class A common stock (NASDAQ: SPWRA) declined by $5.04 per share, or 18.5%, to close at $22.19 per share and SunPower Corporation’s Class B common stock (NASDAQ: SPWRB) declined by $4.43 per share, or 18.5%, to close at $19.47 per share, in each case on substantially greater than average volume.

SunPower Corporation, located in San Jose, California, is a vertically integrated solar products and services company that designs, manufactures and markets high-performance solar electric power technologies. SunPower Corporation operates through two segments: components segment and systems segment. SunPower Corporation reported in 2007 Total Revenue of $774.79 million with a Net Income of $9.20 million and in 2008 Total Revenue of $1.43492 billion with a Net Income of $92.29 million. Shares of SunPower Corporation traded recently at $22.08 per share (NASDAQ: SPWRA) and $19.09 per share (NASDAQ: SPWRB). SPWRA shares were down from its 52 week High of $46.30 per share, almost $100 per share in 2008, and over $130 per share in 2007. SPWRB shares were down form its 52 week High of $39.23 per share.