Bronstein, Gewirtz & Grossman, LLC Announces Class Action Lawsuit Against Enphase Energy, Inc.
On January 22, 2025, Bronstein, Gewirtz & Grossman, LLC, a prominent national securities law firm, declared that a class action lawsuit has been filed against Enphase Energy, Inc. (“Enphase” or “the Company”) (NASDAQ: ENPH) and certain of its officers. The lawsuit alleges that the Company and its officers violated federal securities laws during the period from April 25, 2023, to October 22, 2024 (the “Class Period”).
Class Definition and Allegations
The lawsuit, filed in the United States District Court for the Northern District of California, aims to recover damages for all persons and entities that purchased or otherwise acquired Enphase securities during the Class Period. The complaint alleges that Enphase and its officers made false and misleading statements and failed to disclose material information regarding the Company’s financial condition and business prospects.
Specifically, the complaint alleges that Defendants made false and misleading statements and/or failed to disclose that:
- Enphase was experiencing production issues with its microinverters, which would negatively impact its revenue and earnings;
- The Company’s financial results for certain quarters during the Class Period were not accurate, and Enphase was not meeting its production targets;
- Enphase’s gross margins were under pressure due to increased competition and component cost inflation;
- The Company’s guidance for future periods was overly optimistic.
Impact on Individual Investors
If you purchased or otherwise acquired Enphase securities during the Class Period, you may be eligible to receive compensation for your losses. The lawsuit seeks to recover damages on behalf of all affected investors. You do not need to be lead plaintiff to participate in this class action. If you wish to review a copy of the complaint filed in this action, contact Peter Allocco at (212) 697-1055 or [email protected].
Global Implications
The class action lawsuit against Enphase Energy, Inc. could have far-reaching implications for the renewable energy sector and the broader financial markets. The allegations, if proven true, could lead to increased scrutiny of other solar energy companies and their financial reporting practices. Additionally, the lawsuit could negatively impact investor confidence in the sector, potentially leading to reduced investment and increased volatility in solar energy stocks.
Conclusion
Bronstein, Gewirtz & Grossman, LLC’s announcement of a class action lawsuit against Enphase Energy, Inc. and certain of its officers alleges that the Company and its executives made false and misleading statements regarding Enphase’s financial condition and business prospects during the Class Period, potentially impacting individual investors and the renewable energy sector as a whole. If you purchased or acquired Enphase securities during the Class Period and wish to discuss your legal rights and potential remedies, contact Peter Allocco at (212) 697-1055 or [email protected].
This press release is not a solicitation for investment. Bronstein, Gewirtz & Grossman, LLC is a New York City-based law firm focusing on securities litigation. The firm prosecutes securities class actions and other complex litigation on behalf of institutional and individual investors.
