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     173  0 Kommentare Kessler Topaz Meltzer & Check, LLP Announces Investor Securities Fraud Class Action Lawsuit Filed Against Enphase Energy, Inc.

    The law firm of Kessler Topaz Meltzer & Check, LLP reminds that an investor securities fraud class action lawsuit has been filed against Enphase Energy, Inc. (NASDAQ: ENPH) (“Enphase”) on behalf of those who purchased or otherwise acquired Enphase common stock between February 26, 2019 and June 17, 2020, inclusive (the “Class Period”).

    Enphase investors who purchased or otherwise acquired common stock during the Class Period may, no later than August 17, 2020, seek to be appointed as a lead plaintiff representative of the class.

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    Investors who wish to discuss this securities fraud class action lawsuit or request additional information about this litigation are encouraged to contact Kessler Topaz Meltzer & Check attorneys James Maro, Jr. or Adrienne Bell at (844) 877-9500 (toll free) or online, click https://www.ktmc.com/enphase-energy-inc-class-action?utm_source=PR&amp ....

    According to the complaint, Enphase is a global energy technology company that delivers smart, easy-to-use solutions that manage solar generation, storage and communication on one intelligent platform. Enphase asserts that it revolutionized the solar industry with its microinverter technology, and that it produces a fully integrated solar-plus-storage solution.

    The Class Period commences on February 26, 2019, when Enphase issued a press release on a Form 8-K with the SEC in which it announced Enphase’s financial results for the fourth quarter and year-ended 2018. In the press release, Enphase stated that for the fourth quarter of 2018 it had revenue of $92.3 million, an increase of 18% sequentially and an increase of 16% year-over-year. The press release further stated that Enphase’s non-GAAP gross margin was 30.7%, a decrease of 210 basis points from 32.8% in the third quarter. For the full year ended December 31, 2018, Enphase reported revenue of $316.159 million, with gross margins of 29.9%, up from $286.166 million and 19.6% for the year ended December 31, 2017.

    The complaint alleges that, on June 17, 2020, analyst Prescience Point Capital Management (“Prescience Point”) published a report in which it wrote that “[a]t least $205.3m of ENPH’s reported FY19 US revenue is fabricated, and a significant portion of its international revenue is fabricated as well.” The report continued: “[m]ost, if not all, of the 2,080 Bps expansion in ENPH’s gross margin since Q2’17 is also fabricated,” and called on Enphase’s accountant, Deloitte, to “launch an in-depth investigation of EPNH’s accounting practices.” Prescience Point further called on “[r]egulatory and law enforcement agencies with subpoena power [to] launch a full investigation of the Company, its accounting, its disclosures and trading by insiders."

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    Kessler Topaz Meltzer & Check, LLP Announces Investor Securities Fraud Class Action Lawsuit Filed Against Enphase Energy, Inc. The law firm of Kessler Topaz Meltzer & Check, LLP reminds that an investor securities fraud class action lawsuit has been filed against Enphase Energy, Inc. (NASDAQ: ENPH) (“Enphase”) on behalf of those who purchased or otherwise acquired Enphase …

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