SolarEdge (SEDG) Europe Inventory Case

S.D. New York

Court

1:23-cv-09748

Case number

05/03/2023

Class period Start

10/19/2023

Class period End

01/02/2024

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

SolarEdge (SEDG) Europe Inventory Case

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