Step 1
Unite with Fellow Investors
Step 2
Choose the Best Attorney
Step 3
Provide Documents
Step 4
Follow Case Progress
Step 5
Get Payout
SEDG.US
id: 865
SolarEdge (SEDG) Europe Inventory Case
S.D. New York
Court1:23-cv-09748
Case number05/03/2023
Class period Start10/19/2023
Class period End01/02/2024
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.
Case Status
Motion to dismiss
Alleged Offence
Mismanagement,
Misleading Statements,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
10/20/2023
Filing date
11/03/2023
Lead Plaintiff Deadline
01/02/2024
Judge
Gregory H Woods