Glancy Prongay & Murray Appoints Charles Linehan as Lead Counsel in Enphase Energy Securities Class Action
Los Angeles, CA – Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, announces that partner Charles Linehan of GPM has been appointed lead counsel in Hayes v. Enphase Energy, Inc. (“Enphase” or “the Company”) (NASDAQ: ENPH), a securities class action on behalf of investors who purchased or otherwise acquired Enphase securities between February 25, 2021, and August 11, 2021. The case is pending in the United States District Court for the Northern District of California, before Judge James Donato, Case No. 24-cv-04249-JD.
Background of the Case
The complaint alleges that Enphase made false and misleading statements to the market. Specifically, the Company issued a press release on August 12, 2021, announcing that it had received final approval from the U.S. International Trade Commission (“ITC”) for certain of its solar microinverters, which the Company represented would be a significant competitive advantage. However, the ITC’s final determination did not include the microinverters at issue, and Enphase had known of this fact since mid-July 2021. As a result, Enphase’s stock price was artificially inflated during the Class Period.
Impact on Individual Investors
If you purchased or otherwise acquired Enphase securities during the Class Period, you may be entitled to recover your losses, including damages and interest, in this action. To be eligible for certain relief, you must file a motion for lead plaintiff no later than 60 days from the date of this notice. The lead plaintiff will act on behalf of all other class members in directing the litigation.
Impact on the World
The Enphase securities class action is significant because it highlights the importance of accurate and transparent disclosures by publicly traded companies. The alleged misrepresentations in this case could have serious consequences for investors who rely on the accuracy of a company’s public statements. It also underscores the role of securities class actions in holding companies accountable for their actions and providing a remedy for harmed investors.
Conclusion
Glancy Prongay & Murray LLP continues to actively monitor the securities market, and the Firm’s securities lawyers are committed to pursuing justice for investors. If you purchased or otherwise acquired Enphase securities during the Class Period, please contact Charles Linehan at 310-201-9150, 888-773-9224, or via email at [email protected] to learn more about your rights and potential remedies. For more information about Glancy Prongay & Murray LLP and its ongoing securities litigation, please visit www.glancylaw.com.
- Glancy Prongay & Murray LLP announces appointment of Charles Linehan as lead counsel in Enphase Energy securities class action
- Case alleges false and misleading statements regarding ITC approval of certain solar microinverters
- Individual investors who purchased Enphase securities during the Class Period may be entitled to recover losses
- Significance of the case highlights importance of accurate disclosures by publicly traded companies
- Glancy Prongay & Murray LLP continues to actively monitor securities market and pursue justice for investors
