The law firms of Bernstein Litowitz Berger & Grossmann LLP, Kaplan Fox & Kilsheimer LLP and Kessler Topaz Meltzer & Check, LLP announce proposed settlement of SunPower Securities Litigation

SAN FRANCISCO, April 18, 2013 /PRNewswire/ --

UNITED STATES DISTRICT COURT

NORTHERN DISTRICT OF CALIFORNIA

SAN FRANCISCO DIVISION

TO:     ALL PERSONS AND ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED SUNPOWER CORPORATION PUBLICLY TRADED CLASS A AND/OR CLASS B COMMON STOCK AND/OR 4.75% SENIOR CONVERTIBLE DEBENTURES ("SECURITIES") BETWEEN APRIL 17, 2008 AND NOVEMBER 16, 2009, INCLUSIVE:

YOU ARE HEREBY NOTIFIED that a proposed settlement has been reached in this action.  A hearing will be held with respect to the settlement on July 3, 2013 at 3:00 p.m. before the Honorable Richard Seeborg in the United States District Court for the Northern District of California, San Francisco Division, 450 Golden Gate Avenue, Courtroom 3, 17th Floor, San Francisco, California.

The purpose of the hearing is to determine whether the proposed settlement of the securities class action claims asserted in this litigation, pursuant to which Defendant SunPower Corporation ("SunPower") will cause to be deposited the sum of nineteen million seven hundred thousand United States dollars ($19,700,000) into a settlement fund in exchange for the dismissal of the litigation and a release of claims against SunPower, the other defendants and other related persons and entities, should be approved by the Court as fair, reasonable, adequate, and in the best interests of the Settlement Class, which includes all persons and entities who purchased or otherwise acquired SunPower Securities during the period from April 17, 2008 to November 16, 2009, inclusive ("Settlement Class Period").

If you purchased or otherwise acquired SunPower Securities during the Settlement Class Period, you may be potentially entitled to share in the distribution of the settlement fund if you submit a claim form postmarked no later than August 6, 2013, establishing that you are potentially entitled to a recovery.  Regardless of whether you submit a claim form or obtain any distribution of the settlement fund, if the settlement is approved by the Court, you will be bound by the settlement and the Court's final order and judgment, including the releases provided for in the final order and judgment, unless you submit a request to be excluded from the Settlement Class as discussed below.

If you are a Settlement Class Member, you have the right to object to the settlement, the plan of allocation and/or the request by plaintiffs' Lead Counsel for an award of attorneys' fees and litigation expenses, or otherwise request to be heard, by submitting no later than June 12, 2013,  a written objection in accordance with the procedures described in a more detailed notice that has been mailed to persons or entities known to be potential Settlement Class Members, and that is available at www.sunpowersecuritieslitigation.com.  You also have the right to exclude yourself from the Settlement Class by submitting, no later than June 12, 2013, a written request for exclusion from the Settlement Class in accordance with the procedures described in the more detailed notice.

This notice provides only a summary of matters regarding the litigation and the settlement.  A detailed notice describing the litigation, the proposed settlement, and the rights of Members of the Settlement Class to appear in Court at the hearing, to request to be excluded from the Settlement Class and/or to object to the settlement, the plan of allocation and/or the request by plaintiffs' Lead Counsel for an award of attorneys' fees and litigation expenses, has been mailed to persons or entities known to be potential Settlement Class Members.  You may obtain a copy of this notice, a proof of claim form and other information by writing to the following address or calling the following telephone number:

SunPower Securities Litigation
P.O. Box 6659
Portland, OR 97228-6659
(877) 483-2990

or by downloading the same from www.sunpowersecuritieslitigation.com.

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.

Inquiries, other than requests for the detailed notice referenced above and a proof of claim form, may be made to the following firms comprising Lead Counsel for the Settlement Class:

Dated: March 25, 2013

BY ORDER OF THE CLERK OF COURT
UNITED STATES DISTRICT COURT
FOR THE NORTHERN DISTRICT OF CALIFORNIA

SOURCE United States District Court For The Northern District of California San Francisco Division