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Tigo Energy (TYGO) Defective Batteries Case
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On August 9, 2023, Tigo Energy (TYGO) announced unaudited financial results, missing market expectations on revenues. The press release stated that Tigo "started seeing some demand softening".
On this news, $TYGO fell over 43%, seriously damaging investors.
- Previously, there were several investigations and customer complaints regarding the safety of the Company's batteries.
- These concerns centered around the potential for explosions and fire hazards.
- However, Tigo Energy did not disclose these issues in their SEC filings either before going public or in the period thereafter.
Investors may have reasons to suspect that Tingo failed to disclose product defects in the securities disclosure, including IPO docs.
THIS CASE IS ATTORNEY ADVERTISEMENT
Failure to Disclose,
Shock Event Date
09 August 2023