NEW YORK, June 05, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Enphase Energy, Inc. (“Enphase” or the “Company”) (NASDAQ: ENPH). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether Enphase and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until July 29, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Enphase securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
On April 25, 2023, Enphase issued a press release announcing its earnings for the first quarter of 2023. Among other items, Enphase reported that revenue in the United States had “decreased approximately 9% due to seasonality and macroeconomic conditions.” On an accompanying earnings call, Enphases’s top officers stated that the Company’s “sell-through of microinverters in the U.S. was 21% lesser in Q1 compared to Q4” and that “[s]ell-through of our batteries in California was 23% lesser in Q1 compared to Q4 as installers focused mainly on solar.” Enphase’s quarterly results were at odds with the projected revenue outlook and anticipated growth that Enphase had provided less than three months earlier, on February 7, 2023.
On this news, Enphase’s stock price fell $56.77 per share, or 25.73%, to close at $163.83 per share on April 26, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
