Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired Enphase Energy, Inc. (“Enphase”) (NASDAQ: ENPH) securities between February 26, 2019 and June 17, 2020, inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Enphase’s revenues, both U.S. and international, were inflated; (2) the company engaged in improper deferred revenue accounting practices; (3) the company’s reported base points expansion in gross margins were overstated; and (4) as a result of the foregoing, Defendants’ statements about the company’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times.
Current Status of Case:
On August 17, 2021, the Court granted Defendants’ Motion to Dismiss. On October 18, 2021, Lead Plaintiffs informed the Court that they did not intend to file an amended complaint. This action has concluded.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.