SunPower dips on SEC's subpoena on accounting matters
05/07/2024 19:13
** Shares of SunPower SPWR.O fall 22% to $2.09 in Friday
afternoon trade - at their lowest since early May
** Co late on Wednesday reported that company's auditor
Ernst & Young quit in June amid allegations of misconduct by
senior executives
** SPWR also disclosed it received a document subpoena from
the SEC on Feb. 28 relating to certain accounting matters,
focusing on the periods covered by the affected financial
statements and Q4 2023; this led to a continuing internal review
by an independent outside law firm
** SPWR, which has a short interest of 18.7%, is down 56.5%
YTD
(Reporting by Sourasis Bose in Bengaluru)
((Sourasis.bose@thomsonreuters.com))