The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of SPWR, AFRM and FB

The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. There is no cost to participate in the suit. If you suffered a loss, you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff

SunPower Corporation (NASDAQ:SPWR)
Class Period: August 3, 2021 - January 20, 2022
Lead Plaintiff Deadline: April 18, 2022
According to the complaint, SunPower Corporation allegedly made materially false and/or misleading statements and/or failed to disclose that: (1) certain connectors used by SunPower suffered from cracking issues; (2) as a result, the Company was reasonably likely to incur costs to remediate the faulty connectors; (3) as a result of the foregoing, SunPower's financial results would be adversely impacted; and (4) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Learn about your recoverable losses in SPWR: https://www.kleinstocklaw.com/pslra-1/sunpower-corporation-loss-submission-form?id=25650&from=1

Affirm Holdings, Inc. (NASDAQ:AFRM)
This lawsuit is on behalf of all investors who purchased or otherwise acquired Affirm Holdings, Inc. securities on February 10, 2022 after the Company sent a Tweet concerning its Second Quarter 2022 financial results at approximately 1:15 p.m. EST.
Lead Plaintiff Deadline: April 29, 2022
(i) Affirm's "buy now, pay-later" service facilitated excessive consumer debt, regulatory arbitrage, and data harvesting; (ii) the foregoing subjected Affirm to a heightened risk of regulatory scrutiny and enforcement action; (iii) Affirm maintained inadequate disclosure controls and procedures and internal control over financial reporting; (iv) accordingly, Affirm's tweet for its second quarter 2022 financial results contained selected metrics that made it appear that the Company had performed better than it actually did; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.
Learn about your recoverable losses in AFRM: https://www.kleinstocklaw.com/pslra-1/affirm-holdings-inc-loss-submission-form?id=25650&from=1

Meta Platforms, Inc. (NASDAQ:FB)
Class Period: March 2, 2021 - February 2, 2022
Lead Plaintiff Deadline: May 9, 2022
Meta Platforms, Inc. allegedly made materially false and/or misleading statements and/or failed to disclose that: (1) Apple's iOS privacy changes were having a material impact on Meta's ability to provide the kind of targeted advertising that its customers wanted and, as a result, customer ad spending was dropping precipitously; (2) Meta's mitigation efforts were either not properly implemented or ineffective; (3) measurement of ads was not accurate as mitigation efforts were failing; and (4) Meta did not have a plan in place to properly address the impact of the iOS privacy changes.
Learn about your recoverable losses in FB: https://www.kleinstocklaw.com/pslra-1/meta-platforms-inc-loss-submission-form?id=25650&from=1

Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. If you suffered a loss during the class period and wish to obtain additional information, please contact J. Klein, Esq. by telephone at 212-616-4899 or visit the webpages provided.

J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
Fax: (347) 558-9665
www.kleinstocklaw.com

SOURCE: The Klein Law Firm

View source version on accesswire.com:
https://www.accesswire.com/696424/The-Klein-Law-Firm-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders-of-SPWR-AFRM-and-FB

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Drill Hole	Easting	Northing	Depth (m)	Azimuth (°)	Plunge (°)
22SA001	451740.4	7501785	253.7	140	45
22SA002	452260.5	7501192	271.4	135	45
22SA003	453513.1	7501236	214.7	100	45
22SA004	453606.7	7501589	232.8	360	45
22SA005	454323.6	7502130	171.7	360	45
22SA006	453834	7500785	139.8	180	45
22SA007	454429	7501047	214.6	180	45
22SA008	454535	7500809	200	125	45
22SA009	454528	7500890	99.7	180	45
22SA010	455178	7500633	178.2	300	45
22SA011	454850.4	7501168	145.7	120	45
22SA012	454574.9	7500582	205.5	310	45

Apple Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In millions, except number of shares, which are reflected in thousands, and per-share amounts)

	Three Months Ended					Twelve Months Ended
	September 30, 2023		September 24, 2022			September 30, 2023			September 24, 2022
Net sales:
Products	$	67,184	$	70,958		$	298,085		$	316,199
Services		22,314		19,188			85,200			78,129
Total net sales ⁽¹⁾		89,498		90,146			383,285			394,328
Cost of sales:
Products		42,586		46,387			189,282			201,471
Services		6,485		5,664			24,855			22,075
Total cost of sales		49,071		52,051			214,137			223,546
Gross margin		40,427		38,095			169,148			170,782

Operating expenses:
Research and development		7,307		6,761			29,915			26,251
Selling, general and administrative		6,151		6,440			24,932			25,094
Total operating expenses		13,458		13,201			54,847			51,345

Operating income		26,969		24,894			114,301			119,437
Other income/(expense), net		29		(237	)		(565	)		(334	)
Income before provision for income taxes		26,998		24,657			113,736			119,103
Provision for income taxes		4,042		3,936			16,741			19,300
Net income	$	22,956	$	20,721		$	96,995		$	99,803

Earnings per share:
Basic	$	1.47	$	1.29		$	6.16		$	6.15
Diluted	$	1.46	$	1.29		$	6.13		$	6.11
Shares used in computing earnings per share:
Basic		15,599,434		16,030,382			15,744,231			16,215,963
Diluted		15,672,400		16,118,465			15,812,547			16,325,819

⁽¹⁾ Net sales by reportable segment:
Americas	$	40,115	$	39,808		$	162,560		$	169,658
Europe		22,463		22,795			94,294			95,118
Greater China		15,084		15,470			72,559			74,200
Japan		5,505		5,700			24,257			25,977
Rest of Asia Pacific		6,331		6,373			29,615			29,375
Total net sales	$	89,498	$	90,146		$	383,285		$	394,328

⁽¹⁾ Net sales by category:
iPhone	$	43,805	$	42,626		$	200,583		$	205,489
Mac		7,614		11,508			29,357			40,177
iPad		6,443		7,174			28,300			29,292
Wearables, Home and Accessories		9,322		9,650			39,845			41,241
Services		22,314		19,188			85,200			78,129
Total net sales	$	89,498	$	90,146		$	383,285		$	394,328

Apple Inc. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In millions, except number of shares, which are reflected in thousands, and par value)

	September 30, 2023			September 24, 2022
ASSETS:
Current assets:
Cash and cash equivalents	$	29,965		$	23,646
Marketable securities		31,590			24,658
Accounts receivable, net		29,508			28,184
Vendor non-trade receivables		31,477			32,748
Inventories		6,331			4,946
Other current assets		14,695			21,223
Total current assets		143,566			135,405

Non-current assets:
Marketable securities		100,544			120,805
Property, plant and equipment, net		43,715			42,117
Other non-current assets		64,758			54,428
Total non-current assets		209,017			217,350
Total assets	$	352,583		$	352,755

LIABILITIES AND SHAREHOLDERS' EQUITY:
Current liabilities:
Accounts payable	$	62,611		$	64,115
Other current liabilities		58,829			60,845
Deferred revenue		8,061			7,912
Commercial paper		5,985			9,982
Term debt		9,822			11,128
Total current liabilities		145,308			153,982

Non-current liabilities:
Term debt		95,281			98,959
Other non-current liabilities		49,848			49,142
Total non-current liabilities		145,129			148,101
Total liabilities		290,437			302,083

Commitments and contingencies

Shareholders' equity:
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively		73,812			64,849
Accumulated deficit		(214	)		(3,068	)
Accumulated other comprehensive loss		(11,452	)		(11,109	)
Total shareholders' equity		62,146			50,672
Total liabilities and shareholders' equity	$	352,583		$	352,755

Apple Inc. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (In millions)

	Twelve Months Ended
	September 30, 2023			September 24, 2022
Cash, cash equivalents and restricted cash, beginning balances	$	24,977		$	35,929

Operating activities:
Net income		96,995			99,803
Adjustments to reconcile net income to cash generated by operating activities:
Depreciation and amortization		11,519			11,104
Share-based compensation expense		10,833			9,038
Other		(2,227	)		1,006
Changes in operating assets and liabilities:
Accounts receivable, net		(1,688	)		(1,823	)
Vendor non-trade receivables		1,271			(7,520	)
Inventories		(1,618	)		1,484
Other current and non-current assets		(5,684	)		(6,499	)
Accounts payable		(1,889	)		9,448
Other current and non-current liabilities		3,031			6,110
Cash generated by operating activities		110,543			122,151

Investing activities:
Purchases of marketable securities		(29,513	)		(76,923	)
Proceeds from maturities of marketable securities		39,686			29,917
Proceeds from sales of marketable securities		5,828			37,446
Payments for acquisition of property, plant and equipment		(10,959	)		(10,708	)
Other		(1,337	)		(2,086	)
Cash generated by/(used in) investing activities		3,705			(22,354	)

Financing activities:
Payments for taxes related to net share settlement of equity awards		(5,431	)		(6,223	)
Payments for dividends and dividend equivalents		(15,025	)		(14,841	)
Repurchases of common stock		(77,550	)		(89,402	)
Proceeds from issuance of term debt, net		5,228			5,465
Repayments of term debt		(11,151	)		(9,543	)
Proceeds from/(Repayments of) commercial paper, net		(3,978	)		3,955
Other		(581	)		(160	)
Cash used in financing activities		(108,488	)		(110,749	)

Increase/(Decrease) in cash, cash equivalents and restricted cash		5,760			(10,952	)
Cash, cash equivalents and restricted cash, ending balances	$	30,737		$	24,977

Supplemental cash flow disclosure:
Cash paid for income taxes, net	$	18,679		$	19,573
Cash paid for interest	$	3,803		$	2,865

The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of SPWR, AFRM and FB

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