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ENPH.US
id: 1429
Enphase Energy (ENPH) European Market Misrepresentation Case
N.D. California
Court3:24-cv-09038
Case number04/25/2023
Class period Start10/22/2024
Class period End02/11/2025
Lead Plaintiff motion deadline- $ENPH investors filed a lawsuit against Enphase Energy for misleading them about the company's ability to maintain pricing and market share in Europe.
- On October 22, 2024, $ENPH dropped by 14.92%.
Case Details:
Between April 25, 2023, and October 22, 2024, Enphase assured investors that its European business remained strong, despite growing competition from more affordable Chinese solar inverter brands.
During a Q1 2023 earnings call on April 25, 2023, CEO Kothandaraman dismissed concerns, claiming no need to reduce pricing and highlighting Enphase’s premium value.
On October 26, 2023, the company reported a 34% revenue decline in Europe for Q3 2023, attributing the drop to “softening demand.”
By Q4 2023, Enphase experienced a further 70% decline in European revenue.
On October 22, 2024, Enphase reported a 15% drop in European revenue for Q3 2024, citing lower demand and rising competition.
These revelations led $ENPH to drop nearly 15%.
Based on these events, $ENPH investors filed a lawsuit against Enphase Energy, accusing the company of the following:
- It misled investors about its ability to maintain pricing and market share in Europe.
- It downplayed competitive pressures from low-cost Chinese alternatives.
Investors believe Enphase misrepresented its pricing strategy and competitive position in Europe.
Case Status
Lead Plaintiff Submission
Alleged Offence
Misleading Statements,
Financial Misrepresentation,
Failure to Disclose
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
10/23/2024
Filing date
12/13/2024
Lead Plaintiff Deadline
02/11/2025