NEW YORK, June 17, 2024 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP:
- Do you, or did you, own shares of Enphase Energy, Inc. (NASDAQ: ENPH)?
- Did you purchase your shares between February 7, 2023 and April 25, 2023, inclusive?
- Did you lose money in your investment in Enphase Energy, Inc.?
- Do you want to discuss your rights?
Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of Enphase Energy, Inc. (“Enphase” or the “Company”) (NASDAQ: ENPH) between February 7, 2023 and April 25, 2023, inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the Northern District of California and alleges violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
If you purchased or acquired Enphase securities, and/or would like to discuss your legal rights and options please visit Enphase Energy, Inc. Shareholder Class Action Lawsuit or contact Joseph R. Seidman, Jr. at (877) 779-1414 or seidman@bernlieb.com.
Enphase is an energy technology company that designs, develops, manufactures, and sells solar micro-inverters, battery energy storage and EV charging stations in the United States and internationally.
According to the Complaint, Defendants failed to disclose to investors adverse facts concerning 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.
On April 25, 2023, Enphase issued a press release announcing its first quarter earnings. In pertinent part, Defendants announced revenue in the United States had decreased by approximately 9% attributing it to macroeconomic conditions. Additionally, Defendants put out a weak second quarter outlook for 2023 where revenue was estimated to be within the range of $700 million to $750 million.
On this news, Enphase’s stock price fell $56.77 per share, or nearly 26%, to close at $163.83 per share on April 26, 2023.
If you wish to serve as lead plaintiff, you must move the Court no later than July 29, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
If you purchased or acquired Enphase securities, and/or would like to discuss your legal rights and options please visit Enphase Energy, Inc. Shareholder Class Action Lawsuit or contact Joseph R. Seidman, Jr. at (877) 779-1414 or seidman@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for sixteen consecutive years.
ATTORNEY ADVERTISING. © 2024 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
Contact Information:
Joseph R. Seidman, Jr.
Bernstein Liebhard LLP
https://www.bernlieb.com
(877) 779-1414
seidman@bernlieb.com
