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SEDG.US
id: 865

SolarEdge (SEDG) Europe Inventory Case

S.D. New York
Court
1:23-cv-09748
Case number
03 May 2023
Class period Start
19 Oct 2023
Class period End
02 Jan 2024
Lead Plaintiff motion deadline
  • SolarEdge faces a lawsuit that alleges its leaders didn't disclose an inventory problem in Europe, which led to order cancellation and a false picture of the company's performance.
  • On October 19, 2023, the truth came out, leading to a 27% $SEDG fall the next day.
This lawsuit claimed that the SolarEdge's leaders didn't reveal that there was too much inventory in their European distribution, causing lots of orders to be canceled or delayed.

The truth started to come out on August 1, 2023, when the CEO revealed the inventory issues.

Then, on October 19, 2023, SolarEdge admitted problems with orders, causing $SEDG fall by 27% and $1.77B loss of market cap the next day.

Given all the information, investors have reasons to suspect that SolarEdge didn't properly disclose its European inventory state and misled about the company's perfomance.
Alleged Offence
Mismanagement
Misleading Statements
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
20 October 2023
Filing date
03 November 2023
Lead Plaintiff Deadline
02 January 2024
Judge
Gregory H Woods
Collecting participants…

SolarEdge Technologies Inc

SolarEdge Technologies, Inc., together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. It ope...

    Ticker
    SEDG.US
    ISIN
    US83417M1045
    CIK
    1419612
    Sector
    Technology
    Industry
    Solar
    Country
    USA
    Address
    1 HaMada Street, Herzliya, Israel, 4673335