SunPower’s Former Executives Hid a Looming Bankruptcy. Investors Can Now Claim Their Losses.

Three former SunPower Corp. executives agreed to pay $11 million to resolve claims that they misled investors about the solar company’s financial health while it was quietly heading toward bankruptcy. Anyone who bought or held SunPower common stock or other SunPower securities between May 3, 2023, and July 19, 2024, may qualify for a cash payment. The claim deadline is July 26, 2026.

Field	Detail
Settlement Amount	$11,000,000
Claim Deadline	July 26, 2026
Who Qualifies	Investors who purchased or acquired SunPower common stock or other SunPower securities between May 3, 2023 and July 19, 2024
Payout Per Person	Est. ~$0.13 per eligible share (pro rata, after fees)
Proof Required	Yes — brokerage statements or trade confirmations
Settlement Status	Proposed — Final approval hearing August 25, 2026
Administrator	Angeion Group
Official Website	sunpowersecuritiessettlement.com

Where things stand:

• The court has certified this as a class action on behalf of investors who purchased SunPower securities between May 3, 2023, and July 19, 2024.
• The Final Approval Hearing is scheduled for August 25, 2026. The opt-out deadline is August 4, 2026 — after the claim deadline.
• Payments will go out after the court grants final approval and all appeals are resolved. No payment date has been confirmed yet.

SunPower Told Investors Everything Was Fine. It Wasn’t.

Three former SunPower Corp. executives agreed to pay $11 million to settle class claims that the solar energy company affirmed its financial health when it was actually on the road to bankruptcy. Plaintiffs allege those public statements artificially inflated SunPower’s stock price — and that investors lost money when the truth came out.

The lawsuit alleges the three former officers made materially false and misleading statements and omissions regarding SunPower’s financial health, which artificially inflated SunPower’s common stock price between May 3, 2023, and July 19, 2024, in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The case was filed in the U.S. District Court for the Northern District of California.

SunPower itself was dismissed as a defendant after it filed for Chapter 11 bankruptcy in August 2024. The $11 million comes entirely from the three former officers, not from the company. Investors told the court this recovery represents roughly 23% of the estimated most likely damages amount of $48 million. All three defendants deny wrongdoing.

Which Investors Qualify for This Settlement?

You may qualify if:

• You purchased or otherwise acquired SunPower Corp. common stock between May 3, 2023, and July 19, 2024
• You purchased or traded other SunPower securities (including call options or put options) during that same period
• You suffered financial losses as a result of those transactions
• You are the actual beneficial owner of those securities, or a legal representative with authority to act on behalf of the owner

Additional rules apply to joint accounts, trusts, and institutional investors:

• All joint owners must sign the claim form
• Each separate legal entity or separately managed account must submit its own claim
• Executors, guardians, trustees, and administrators must provide proof of authority to act on behalf of the account holder
• Investors who sold all their SunPower shares before July 26, 2023, may have zero recognized loss under the plan of allocation and may not receive a payment

Related article: PS Logistics Data Breach Ransomware Attack Hit PS Logistics in 2024. Here’s How Affected People Can Claim Up to $4,000.

How Much Will You Actually Receive?

This settlement pays on a pro rata basis — meaning your share depends on how much you lost relative to all other claimants, not a flat per-person amount. The math is more involved than a typical consumer settlement.

The estimated average recovery is approximately $0.20 per eligible share before deductions. After estimated attorney fees and expenses of roughly $0.07 per share, the net average recovery is approximately $0.13 per share. Your actual number could be higher or lower depending on how many valid claims are filed.

The plan of allocation calculates your “recognized loss” based on when you bought and sold:

• Shares sold before July 26, 2023: Recognized loss is $0 — these transactions are excluded from the payout calculation
• Shares sold between July 26, 2023, and July 18, 2024: Loss equals the artificial inflation at purchase minus the artificial inflation at sale
• Shares sold between July 19, 2024, and October 16, 2024: Loss equals the lesser of the artificial inflation at purchase, or your purchase price minus the average price during that 90-day window
• Shares held through October 16, 2024: Loss equals the lesser of the artificial inflation at purchase, or your purchase price minus $0.22 (the 90-day average closing price)

Claims for SunPower call options purchased and put options sold during the class period are capped at 3% of the net settlement fund combined. If your calculated payment comes out to less than $10, you will not receive a payout.

Here’s how the $11 million fund breaks down:

Category	Amount
Attorneys’ fees	Up to $3,666,667
Attorneys’ expenses	Up to $500,000
Service awards to plaintiffs	Up to $7,500 total
Payments to class members	Remainder of fund
Settlement administration costs	TBD

What You Need to Gather Before You File

This settlement requires documentation. Have the following ready before you start your claim:

• The last four digits of your Social Security number or your full taxpayer identification number
• Number of SunPower securities you held as of the close of trading on May 2, 2023
• Trade dates, share counts, and prices for every SunPower purchase, acquisition, or sale from May 3, 2023, through October 16, 2024
• Number of SunPower securities you held as of the close of trading on October 16, 2024
• Brokerage confirmation slips, monthly account statements, or authorized broker statements covering those transactions

How to File Your Claim

Step 1 — Go to the official claim portal at sunpowersecuritiessettlement.com/submit-claim

Step 2 — Enter your personal and taxpayer identification information

Step 3 — Complete the Schedule of Transactions for your SunPower common stock (Part B), call options (Part C), or put options (Part D) as applicable

Step 4 — Upload or attach documentation supporting your holdings and trades

Step 5 — Sign and submit your claim online, or mail the completed form postmarked by July 26, 2026

Step 6 — Save your confirmation and watch for any follow-up requests from the administrator

By mail: SunPower Securities Settlement, c/o Claims Administrator, 1650 Arch Street, Suite 2210, Philadelphia, PA 19103

By phone: (888) 771-4249

By email: [email protected]

Estimated time to complete: 15–30 minutes depending on how many transactions you need to document

Key Dates for the SunPower Securities Settlement

Milestone	Date
Class Period Begins	May 3, 2023
Class Period Ends	July 19, 2024
SunPower Bankruptcy Filing	August 2024
Claim Filing Deadline	July 26, 2026
Opt-Out Deadline	August 4, 2026
Objection Deadline	TBD
Final Approval Hearing	August 25, 2026
Expected Payment Date	TBD — after final approval and any appeals

Frequently Asked Questions

Do I need a lawyer to file a claim? 

No. Pomerantz LLP serves as class counsel and represents all class members at no direct cost to you. You can file your own claim at sunpowersecuritiessettlement.com. If you want separate representation, you may hire your own attorney at your own expense.

Is this settlement legitimate?

 Yes. This is a court-supervised securities class action pending in the U.S. District Court for the Northern District of California. The claims administrator is the Angeion Group, operating from Philadelphia. The official settlement website is sunpowersecuritiessettlement.com.

When will I receive my payment?

 No payment date has been set. The Final Approval Hearing is scheduled for August 25, 2026. If the court approves the settlement and no appeals follow, the administrator will process all claims and mail checks afterward. The timeline after approval typically runs several months.

What if I missed the claim deadline? 

The deadline is July 26, 2026. If you file after that date, the administrator will reject your claim and you will not receive a payment even if your losses otherwise qualify. Contact the administrator at (888) 771-4249 before the deadline if you have questions.

Will this settlement payment affect my taxes?

 Possibly. Securities class action payments are generally treated as a reduction in your cost basis or as taxable income depending on your specific situation. The settlement does not specify tax treatment — consult a tax professional about how your payment will be characterized given your original purchase price and holding period.

I bought SunPower stock and sold it before July 26, 2023. Do I still qualify?

 Technically yes, you are in the class period — but under the plan of allocation your recognized loss for shares sold before July 26, 2023, is calculated as zero. That means you would likely receive no payment even if you file a valid claim. Review the full plan of allocation in the Long Notice at sunpowersecuritiessettlement.com before filing.

SunPower went bankrupt. Why are the former executives paying instead of the company? 

SunPower filed for Chapter 11 bankruptcy in August 2024 and was dismissed as a defendant. The $11 million settlement comes entirely from three former officers named in the lawsuit. Shareholders cannot generally recover from a bankrupt company through a class action, which is why the case proceeded against the individual executives.

What happens if I do nothing?

 If you qualify and do nothing, you give up your right to a cash payment. You also release your legal claims against the three former SunPower officers covered by this settlement. You will not be able to sue them separately over the same conduct.

Sources & References

• Official Settlement Website — sunpowersecuritiessettlement.com

Last Updated: March 25, 2026

Disclaimer: This article is for informational purposes only and does not constitute legal advice. Legal claims and outcomes depend on specific facts and applicable law. For advice regarding a particular situation, consult a qualified attorney.