Securities fraud lawsuit against Enphase focuses on sharp declines in European revenue in 2023 and 2024. (Image Credit/Source: Pavel Danilyuk/Pexels)
US-based Enphase Energy is now facing a securities fraud class action lawsuit filed by Kessler Topaz Meltzer & Check, LLP, for investors who bought Enphase stock between April 25, 2023, and October 22, 2024. Enphase has reported a 25% year-over-year increase in European revenue on April 25, 2023, forsaking the competition concerns from Chinese manufacturers. However, on October 26, 2023, the company disclosed a 34% decline in European revenue, leading to a 15% stock price drop to $82.09. Further, on October 22, 2024, Enphase also announced another 15% revenue decline, leading to a downgrade by Guggenheim and a stock price fall to $78.47 on October 23, 2024. Investors have until February 11, 2025, to apply for lead plaintiff status.
MSS ensured reliable healthcare services by powering its units with off-grid solar systems. (Image Source: Neosun Energy)
The ITC has begun investigating Trinasolar’s allegations against Canadian Solar over solar patent violations. (Image Source: Trinasolar)
By integrating LiiON, Alternus strengthens its clean energy solutions, targeting utility-scale solar and advanced microgrids. (Image Source: Alternus Clean Energy)
Jolywood Solar’s innovative modules impressed attendees at Solar Solutions Düsseldorf, showcasing aesthetic and durable solar solutions. (Image Source: Jolywood)