Overview

A class action lawsuit has been filed against Enphase Energy, Inc. (“Enphase” or the “Company”) (NASDAQ: ENPH) and certain of the Company’s current senior executive officers alleging violations of the federal securities laws.  The Enphase class action lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired Enphase common stock between April 25, 2023, and October 22, 2024, both dates inclusive (the “Class Period”).  Investors have until February 11, 2025, to seek appointment as lead plaintiff in the Enphase class action lawsuit.

Enphase, a Delaware corporation specializing in solar microinverters, faced significant challenges during the Class Period beginning April 25, 2023.  The Company encountered growing competition in the European market from low-cost Chinese competitors, who disrupted the solar inverter industry by selling products at significantly lower prices.  Despite these market conditions, Enphase’s executive officers consistently downplayed concerns about pricing pressures and market share erosion.  They maintained that the Company’s pricing strategy would remain unchanged, claiming that Enphase could continue to demand a premium for its products.

Throughout the Class Period, Enphase reported declines in its European revenue, including a 34% quarter-over-quarter drop in the third quarter 2023 (“Q3 2023”), followed by further declines in subsequent quarters.  Analysts criticized the Company for its unwillingness to adjust prices, leading to stock downgrades and substantial declines in the Company’s share price.  Enphase stock fell nearly 15% on October 27, 2023, following poor Q3 2023 results, and dropped again by a similar margin on October 23, 2024, after further weak performance in Europe was disclosed.

The Enphase class action lawsuit alleges that Enphase’s executive officers made materially false or misleading statements about the Company’s ability to sustain pricing levels and market share in the face of competitive pressures.  The executives’ failure to disclose material adverse facts about the Company’s business and operations resulted in significant financial losses for shareholders as the truth about the Ccompany’s challenges emerged and its stock value declined.

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If you purchased or otherwise acquired Enphase common stock between April 25, 2023, and October 22, 2024, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at [email protected]. 

The deadline to apply to the Court to serve as lead plaintiff in the Enphase class action lawsuit is February 11, 2025.