01:41 PM EDT, 04/23/2024 (MT Newswires) -- SunPower (SPWR) shares fell nearly 9% in recent Tuesday trading after the company said it will resubmit its previous reports found with errors "as soon as practicable."

The company said the errors identified in the reports included certain deferred costs, sales commissions and some "individually immaterial adjustments" based on a review that has yet to be completed, according to a regulatory filing.

The management has concluded that "a new material weakness exists in the company's internal control over financial reporting" for which it will come up with a remediation plan.

Price: 1.96, Change: -0.19, Percent Change: -8.64