Kessler Topaz Meltzer & Check, LLP Announces Investor Securities Fraud Class Action Lawsuit Filed Against Enphase Energy, Inc. - Seite 2

Following this news, Enphase’s stock price fell by approximately 26% in one day, from its June 16, 2020 close of $52.76 per share to a June 17, 2020 close of $39.04 per share.

The complaint alleges that, throughout the Class Period, the defendants made false and/or misleading statements and/or failed to disclose that: (1) its revenues, both U.S. and international, were inflated; (2) Enphase engaged in improper deferred revenue accounting practices; (3) Enphase’s reported basis point expansion in gross margins was overstated; and (4) as a result of the foregoing, the defendants’ public statements were materially false and misleading at all relevant times.

Enphase investors may, no later than August 17, 2020, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. In order to be appointed as a lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.

Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). The complaint in this action was not filed by Kessler Topaz Meltzer & Check. For more information about Kessler Topaz Meltzer & Check, please visit www.ktmc.com.

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