Johnson Fistel Reminds Enphase Shareholders of Upcoming Deadline and Encourages Investors to Seek Counsel
Enphase Energy, Inc. (NASDAQ:ENPH)
SAN DIEGO, CALIFORNIA, UNITED STATES, July 3, 2024 /EINPresswire.com/ -- Johnson Fistel Reminds Enphase Shareholders of Upcoming Class Action Deadline. Investors are Encouraged to Seek Counsel for More InformationShareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of Enphase Energy, Inc.1 (“Enphase” or the “Company”) (NASDAQ: ENPH).
COURT: N.D. California
DOCKET #: 24-CV-03216
https://www.johnsonfistel.com/investigations/enphase-energy
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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. The complaint also alleges that Defendants misled investors by providing the public with materially flawed revenue outlook for fiscal 2023.
Investor Action Steps: Shareholders who incurred losses during the class period, have until July 29, 2024, to move the court to become a lead plaintiff in this action. A lead plaintiff will act on behalf of all other class members in directing the class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor's ability to share any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff.
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1 https://www.johnsonfistel.com/investigations/enphase-energy