Lawsuit filed for Investors who lost money with shares of Enphase Energy, Inc. (NASDAQ: ENPH)

An investor, who purchased shares of Enphase Energy, Inc. (NASDAQ: ENPH), filed a lawsuit over alleged violations of Federal Securities Laws by Enphase Energy, Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Enphase Energy, Inc. (NASDAQ: ENPH) have certain options and for certain investors are short and strict deadlines running. Deadline: February 11, 2025. NASDAQ: ENPH investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Fremont, CA based Enphase Energy, Inc., together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. On April 25, 2023, Enphase Energy, Inc. announced its first quarter 2023 financial results. Among other things, Enphase reported an approximately 25% year-over-year increase in European revenue. During the accompanying quarterly investor earnings call held that same day, Enphase Energy's President and Chief Executive Officer, stated that Enphases European business is growing rapidly, with sell-through of our microinverters in Europe reach[ing] an all time high in the quarter. When asked specifically about competition in Europe from Chinese manufacturers and the risk of margin erosion caused by price deflation from those competitors, Raghuveer Belur, a Company co-founder and the Companys Senior Vice President and Chief Products Officer, dismissed such concerns, stating that [c]ompetition is strong everywhere and is nothing new [in Europe], while Kothandaraman claimed that Enphase does not see any drop in [its] pricing.

On October 26, 2023, Enphase Energy, Inc. reported an approximately 34% quarter-over-quarter decline in European revenue in the third quarter of 2023 due to softening in demand. During the accompanying quarterly investor earnings call held that same day, the CEO and President of Enphase Energy, Inc. was adamant that the Company would not adjust its pricing strategies, despite countervailing competitive market forces, emphasizing that theres no broad-based pricing adjustment from us.
In response to the decline in European revenue and CEO and President of Enphase Energy, Inc. unwillingness to consider pricing adjustments, analysts at BofA Securities reiterated their underperform rating on the stock and criticized the Company for refusing to cut prices to pursue market share, as competitive risks endured in Europe.

Then on October 22, 2024, Enphase Energy, Inc. announced its third quarter 2024 financial results and revealed an approximately 15% quarter-over-quarter decline in European revenue due to further softening in European demand. During the accompanying quarterly investor earnings call held that same day, the CEO and President of Enphase Energy, Inc. was again asked whether, in light of the Companys weakness in Europe, Enphase would alter its pricing strategy. While he acknowledged that the Company had occasionally made customer-specific price concessions, the CEO and President of Enphase Energy, Inc. reiterated that we are not dropping pricing anywhere, despite prevailing competitive headwinds.

Subsequently Guggenheim downgraded Enphase Energy, Inc stock to a sell rating from a neutral rating and explained that Enphase is losing share to Chinese competitors who are willing to sell at less than half [Enphase]s level.

Shares of Enphase Energy, Inc. (NASDAQ: ENPH) declined from $141.63 per share on June 12, 2024, to as low as $59.12 per share on November 13 2024.

The plaintiff claims that between April 25, 2023 and October 22, 2024, the Defendants systematically overstated the Company's ability to maintain its pricing levels and market share for microinverter products in Europe in the face of competition from low-cost, Chinese alternatives, and that as a result of Defendants' alleged wrongful acts and omissions, investors purchased Enphase's securities between April 25, 2023 and October 22, 2024 at artificially inflated prices.

Those who purchased shares of Enphase Energy, Inc. (NASDAQ: ENPH) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.