SunPower Internal Review Identifies Unsubstantiated Accounting Entries
SAN JOSE, Calif., Nov 16, 2009 /PRNewswire-FirstCall via COMTEX News Network/ — SunPower Corp. (Nasdaq: SPWRA, SPWRB) today announced that based upon an internal review of its Philippine manufacturing operations, the company believes there may have been unsubstantiated accounting entries made in the first three quarters of 2009, some of which relate to the company’s fiscal year ended December 28, 2008. Management informed the Audit Committee of the Board of Directors of these entries and the Audit Committee immediately commenced an investigation of the matter, which is ongoing. The company’s Audit Committee and management have discussed these issues with the company’s independent auditors.
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