Forward-Looking Statements In Securities Class Suit Not Actionable, Judge Rules

Mealey's (April 20, 2018, 2:49 PM EDT) -- SAN FRANCISCO — Lead plaintiffs in a securities class action lawsuit failed to show that a solar energy provider’s forward-looking statements about the impact of the U.S. government’s extension of a solar energy tax incentive program were actionable misstatements or omissions or that defendants acted with the requisite scienter, a federal judge in California ruled April 19 in granting the defendants’ motion to dismiss (In re SunPower Corp. Securities Litigation, No. 16-4710, N.D. Calif., 2018 U.S. Dist. LEXIS 65564)....