Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that a class action lawsuit has been filed against Enphase Energy, Inc. in the U.S. District Court for the Northern District of California.

The next deadline for lead plaintiffs is July 29, 2024

NEW YORK, 27 June 2024 /PRNewswire/ — Wolf Haldenstein Eagle Freeman & Herz LLP (“Wolf Haldenstein“) announces that a class action lawsuit has been filed in federal court against Enphase Energy, Inc. (“Enphase” or the “Company”) (NASDAQ: ENPH) in The United States District Court for the Northern District of California on behalf of all persons and entities who hold securities of Enphase between February 7, 2023 And 25 April 2023both dates inclusive (the “lesson”).

AAll investors who bought shares and losses incurred will be pointed out to contact the company immediately at (email protected) or (800) 575-0735 or (212) 545-4774. For more information about the lawsuit, or to join the lawsuit, please visit our website at www.whafh.com.

If you have suffered damage, you can at the latest July 29, 2024request that the Court appoint you as lead plaintiff in the proposed class. Please contact Wolf Haldenstein to learn more about your rights.

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As set out in the complaint filed, the defendants created the false impression that they had reliable information regarding the Company’s projected sales prospects and expected growth, while minimizing the risk of seasonality and macroeconomic fluctuations. In reality, Enphase had anticipated a decline in battery shipments to Europe And CaliforniaSlowdown in battery adoption and usage, longer transition period with NEM 3.0, and lower production of inverters manufactured by the new U.S. production lines. Management misled investors by presenting the public with a materially incorrect revenue outlook for fiscal year 2023.

At 25 April 2023Enphase announced its first quarter results and reported revenue of The United States had declined by approximately 9% and was attributed to 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, the price of Enphase’s common stock fell dramatically. From a closing price of $220.60 per share on 25 April 2023Enphase’s share price fell to $163.83 per share on 26 April 2023a drop of almost 26 for a single day.

Wolf Haldenstein has experience in prosecuting class action and derivative securities litigation in state and federal courts and appellate courts across the country. The firm has attorneys in various practice areas and offices in new York, Chicago, Nashville And San Diego. This firm’s reputation and expertise in shareholder and other class action litigation has been repeatedly recognized by the courts, which have appointed it to key positions in complex multidistrict and consolidated securities litigation.

If you would like to discuss this measure or have any questions about your rights and interests in this case, please contact Wolf Haldenstein by phone at (800) 575-0735 or by email at (email protected).

Contact:

Wolf Haldenstein Eagle Freeman & Heart LLP
Gregory StoneDirector of Case and Financial Analysis
E-mail: (email protected) or (email protected)
Phone: (800) 575-0735 or (212) 545-4774

This press release may be considered Attorney Advertising in some jurisdictions under applicable laws and professional rules.

SOURCE Wolf Haldenstein Eagle Freeman & Heart LLP