Enphase faces Class Action lawsuit

Pomerantz LLP, a leading firm specializing in corporate, securities, and antitrust class litigation, has initiated a class action lawsuit against Enphase Energy, Inc. The lawsuit questions whether Enphase and certain executives were involved in securities fraud or other unlawful practices. On April 25, 2023, Enphase had reported a 9% decrease in US revenue for the first quarter, citing seasonal and macroeconomic factors. Company executives disclosed a 21% drop in microinverter sales and a 23% decline in battery sales in California, attributing it to installer focus on solar. These results contradicted Enphase’s earlier revenue projections, leading to a stock price decline of 25.73% to $163.83 per share on April 26, 2023. Investors affected by this situation are encouraged to contact Danielle Peyton at [email protected].