Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Feb. 04, 2025 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Enphase Energy, Inc. ("Enphase Energy" or the "Company") (NASDAQ: ENPH) investors of a class action representing investors that bought securities between April 25, 2023 and October 22, 2024, inclusive (the "Class Period"). Enphase Energy investors have until February 11, 2025 to file a lead plaintiff motion.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
Enphase Energy designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry.
The class action lawsuit against Enphase Energy claims that the defendants made false and/or misleading statements and/or failed to disclose information throughout the Class Period. Specifically, it is alleged that the defendants exaggerated Enphase Energy’s ability to maintain its pricing levels and market share for microinverter products in Europe, despite competition from low-cost Chinese alternatives.
The lawsuit further alleges that on October 26, 2023, Enphase Energy revealed that its third-quarter 2023 revenue in Europe had dropped by approximately 34% compared to the second quarter of 2023, due to a slowdown in demand in key markets such as the Netherlands, France, and Germany. This announcement caused Enphase Energy’s stock price to fall by nearly 15%, according to the complaint.
Additionally, the lawsuit claims that on October 22, 2024, Enphase Energy reported its third-quarter 2024 financial results, revealing a 15% decrease in revenue in Europe compared to the second quarter of 2024, citing "further softening in European demand." This news led to another nearly 15% drop in Enphase Energy’s stock price, according to the lawsuit.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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