Faruqi & Faruqi, LLP investigates claims on behalf of Enphase Energy investors

NEW YORK, May 30, 2024 /PRNewswire/ — Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Enphase Energy, Inc. (“Enphase” or the “Company”) (NASDAQ: ENPH) and reminds investors of the July 29, 2024 Deadline to serve as lead plaintiff in a federal securities class action lawsuit filed against the Company.

James (Josh) Wilson, securities litigation partner at Faruqi & Faruqi, LLP, encourages investors who have suffered losses beyond 100,000 US dollars In Enphase to contact him directly to discuss their options

If you have suffered losses that 100,000 US dollars in enphase between February 7, 2023 And 25 April 2023 and would like to discuss your legal rights, call Faruqi & Faruqi Partner Josh Wilson direct at 877-247-4292 or 212-983-9330 (Extension 1310). For more information you can also click here: www.faruqilaw.com/ENPH.

Faruqi & Faruqi is a leading national securities law firm with offices in new York, Pennsylvania, California And GeorgiaThe firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

As detailed below, the complaint claims that the Company and its officers violated federal securities laws by making false and/or misleading statements and/or failing to disclose: (1) material adverse facts regarding the decline in battery shipments to Europe And California; (2) 28-fold slowdown in battery adoption and use; and (3) longer transition period with NEM 3.0 and slower production of inverters manufactured by the new U.S. production lines. This caused the plaintiff and other shareholders to purchase Enphase’s securities at artificially inflated prices.

At 25 April 2023Enphase issued a press release announcing its first quarter results. In the relevant part, the defendants announced revenue of The United States had declined by approximately 9%, reflecting macroeconomic conditions. In addition, the defendants provided a weak outlook for the second quarter of 2023, in which revenue was estimated to be in the range of 700 million dollars To 750 million US dollars.

Following this news, Enphase’s share price fell $56.77 per share, or almost 26%, and closed at $163.83 per share on 26 April 2023.

The court-appointed lead plaintiff will be the investor with the greatest financial interest in the relief sought by the class, who is reasonable and typical of class members, and who will direct and oversee the litigation on behalf of the putative class. Any member of the putative class may, through counsel of his or her choosing, ask the court to serve as lead plaintiff, or he or she may choose to do nothing and remain an absent class member. Your ability to share in any relief will not be affected by your decision to serve as lead plaintiff.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Enphase’s conduct, including whistleblowers, former employees, shareholders and others, to contact the company.

Learn more about the End phase Class action lawsuit, go to www.faruqilaw.com/ENPH or Call Faruqi & Faruqi Partner Josh Wilson direct at 877-247-4292 or 212-983-9330 (Extension 1310).

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