Enphase Energy Investors Who Have Losses Greater Than $100,000

Enphase Energy Investors Who Have Losses Greater Than $100,000

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Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of investors of Enphase Energy, Inc. (“Enphase Energy” or the “Company”) (NASDAQ: ENPH) to determine whether Enphase Energy engaged in securities fraud or other unlawful business practices. 

Investors who purchased, or otherwise acquired, Enphase Energy securities between February 26, 2019 and June 17, 2020, both dates inclusive (the “Class Period”), and suffered losses greater than $100,000 are encouraged to complete Kehoe Law Firm’s Securities Class Action Questionnaire or contact Kevin Cauley, Director, Business Development, (215) 792-6676, Ext. 802, [email protected], [email protected], to discuss the investigation or potential legal claims.

According to a class action lawsuit filed on behalf of Enphase Energy investors, Enphase Energy, allegedly, misrepresented and/or failed to disclose to investors that: (1) its U.S. and international revenues were inflated; (2) the Company engaged in improper deferred revenue accounting practices; (3) Enphase Energy’s reported base points expansion in gross margins were overstated; and (4) as a result of the foregoing, defendants’ public statements were materially false and misleading at all relevant times.

On June 17, 2020, Prescience Point Capital Management issued a press release regarding its “negative research report” concerning Enphase Energy, which, among other things, stated that “research suggests that at least 39%, or $205 million, of US revenue reported by the company is potentially fabricated, as is a significant portion of the company’s international revenue.”  Prescience Point also stated that the Company “urge[s] the SEC, The Nasdaq Stock Market, Deloitte, Enphase’s Board of Directors, and other authorities to immediately open an investigation of ENPH’s accounting and disclosure practices.”

On this news, Enphase Energy’s stock price was down as much as 24.48% per share during intraday trading on June 17, 2020.

If you wish to serve as lead plaintiff, you must move the Court no later than August 17, 2020.  To be a member of the class action, you do not need to take any action at this time; you may retain counsel of your choice; or you can take no action and remain an absent member of the class action. No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel, unless you retain an attorney. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Kehoe Law Firm, P.C.