SAN DIEGO, June 21, 2024 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of Enphase Energy, Inc. (“Enphase” or the “Company”) (NASDAQ: ENPH). Join the Enphase class action lawsuit to potentially recover losses. Johnson Fistel LLP, a top law firm, can help you become the lead plaintiff.
There is no cost or obligation to you.
The class action is on behalf of shareholders who purchased or otherwise acquired securities between February 7, 2023 and April 24, 2023. Investors have until July 29, 2024, to move the Court to serve as lead plaintiff in this action.
According to the complaint, defendants created the false impression that they possessed reliable information pertaining to the Company’s projected revenue outlook and anticipated growth while also minimizing risk from seasonality and macroeconomic fluctuations. In truth, Enphase had been experiencing a decrease in battery shipments to Europe and California, slowdown in battery deployment and adoption, longer transition period with NEM 3.0, and slower output of inverters manufactured by the new US base manufacturing lines. Defendants misled investors by providing the public with materially flawed revenue outlook for fiscal 2023.
Investor Action Steps: Shareholders who sustained financial losses during the designated class period, are entitled to petition the court, until July 29, 2024, to secure the position of a lead plaintiff in this proceeding. The lead plaintiff assumes the responsibility of representing the collective interests of all class members, guiding the direction of the class-action lawsuit. This pivotal role allows the lead plaintiff the autonomy to appoint a legal firm of their preference to pursue litigation in the class-action case. An investor's eligibility to partake in any prospective settlement of the class-action lawsuit is unrelated to their role as a lead plaintiff.
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Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. We also extend our services to foreign investors who have purchased on US exchanges. Stay updated with news on stock drops and learn how Johnson Fistel, LLP can help you recover your losses. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com.
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