Beverly Hills 11/18/2009 2:56:28 AM
News / Business

Shares of SunPower Sink With News of Accounting Errors Investigation

Finance World News Update by EQUITIES Magazine

After news came out regarding SunPower's investigation of whether its manufacturing operations in the Philippines made unsubstantiated accounting entries, share of the solar power product producers fell $3.82, or 14 percent, to $22.90.

 

SunPower said that some of the accounting entries made during the first three quarter of 2009 relate to its fiscal year ended Dec 28, 2008. The company noted that until its probe is complete, there can’t be any assurance that broader issues don’t exist.

 

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