PLICHTA v. SUNPOWER CORP.

No. C 09-5473 RS.

790 F.Supp.2d 1012 (2011)

Harry W. PLICHTA, Plaintiff, v. SUNPOWER CORPORATION, et al., Defendants.

United States District Court, N.D. California, San Francisco Division.

March 1, 2011.


Attorney(s) appearing for the Case

Shawn A. Williams , Dennis J. Herman , Robbins Geller Rudman & Dowd LLP, San Francisco, CA, Catherine J. Kowalewski , Darren Jay Robbins , David Conrad Walton , Robbins Geller Rudman & Dowd LLP, San Diego, CA, for Plaintiff.

Jordan Eth , Judson Earle Lobdell , Morrison & Foerster LLP, Sean Travis Strauss , Stephen D. Hibbard , Shearman & Sterling, Judson Earle Lobdell , Morrison & Foerster LLP, San Francisco, CA, for Defendants.


ORDER GRANTING MOTION TO DISMISS

RICHARD SEEBORG, District Judge.

I. INTRODUCTION

This shareholders' putative class action arises from a public admission by defendant SunPower Corporation that its prior financial statements had been based in part on, "unsubstantiated accounting entries... [that] generally resulted in an understatement of the Company's cost of goods sold." More specifically, SunPower acknowledged that "certain expenses were

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