On June 27, 2024, a class action lawsuit was filed against Maxeon Solar Technologies (NASDAQ:MAXN) in the United States District Court for the Northern District of California.

The complaint, initiated by a shareholder, alleges that Maxeon and certain officers violated the Securities Exchange Act of 1934 during the period from November 13, 2023, to May 30, 2024.

The allegations pertain to the company's disclosures related to its dealings with SunPower Corporation, seeking unspecified damages.

Maxeon has expressed confidence in its defense, stating the complaint is without merit and affirming that its disclosures have been compliant.

Additionally, the company highlighted its ongoing efforts to develop its dealer channel in the U.S. and its positive progression post the termination of the master supply agreements with SunPower.