SunPower Corporation's Shareholder Alert: The Briscoe Law Firm and Powers Taylor, LLP Investigate the Board of SunPower Corpora

^{Published on 2011-12-28 10:05:24 - Market Wire}
 

SunPower Corporation's Shareholder Alert: The Briscoe Law Firm and Powers Taylor, LLP Investigate... -- DALLAS, Dec. 28, 2011 /PRNewswire/ --

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DALLAS, Dec. 28, 2011 /PRNewswire/ -- Former United States Securities and Exchange Commission attorney [ Willie Briscoe ] and the securities litigation firm of [ Powers Taylor, LLP ]are investigating the sale of the shares of SunPower Corporation ("SunPower" or "SPWR") (Nasdaq: [ SPWR ]) to Total SA ("Total") for SPWR shareholders.

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SunPower announced on December 23, 2011 that it would acquire Total's solar panel production unit for $165.4 million. Nearly simultaneously, Total agreed to buy 18.6 million shares of SunPower stock for $8.80 each, which amounts to approximately $163.7 million. Under the deal, Total's ownership in SunPower will increase from approximately 60% to 66%, in what one analyst described as "a wash between SunPower and its majority owner."

The investigation centers on whether the board sought to achieve maximum value for shareholders in the transaction between itself and its controlling owner, and whether the board breached its fiduciary obligations to its shareholders.

If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at [ patrick@powerstaylor.com ], or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at [ WBriscoe@TheBriscoeLawFirm.com ]. There is no cost or fee to you.

[ The Briscoe Law Firm, PLLC ] is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

[ Powers Taylor, LLP ] is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.

SOURCE Powers Taylor, LLP

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