Case Summary

Enphase Energy

NASDAQ: ENPH

Case Details

  • Bialic v. Enphase Energy, Inc. et al.
  • Class Period:February 7, 2023 - April 25, 2023
  • Date Filed:May 29, 2024
  • Jurisdiction:U.S. District Court, Northern District of California
  • Docket Number: 5:24-cv-03216
  • Lead Plaintiff Deadline: July 29, 2024
Days Left to
Seek Plaintiff
34

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 and former 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 securities between February 7, 2023, and April 25, 2023, both dates inclusive (the “Class Period”).  Investors have until July 29, 2024, to seek appointment as lead plaintiff of the Enphase class action lawsuit.

Enphase is a California corporation with its principal executive offices located at 47281 Bayside Parkway, Fremont, California 94538.  During the Class Period, the Company’s common stock traded on the NASDAQ Stock Market (the “NASDAQ”) under the symbol “ENPH.”

The Enphase class action lawsuit alleges that 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.  Following this news, the price of Enphase’s common stock declined dramatically.  From a closing market price of $220.60 per share on April 25, 2023, Enphase’s stock price fell to $163.83 per share on April 26, 2023, a decline of nearly 26% in the span of just a single day.

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If you purchased or otherwise acquired Enphase securities between February 7, 2023, and April 25, 2023, 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 investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as a lead plaintiff in the Enphase lawsuit is July 29, 2024.

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