LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation on behalf of Enphase Energy, Inc. ("Enphase" or the "Company") (NASDAQ: ENPH) investors concerning the Company and its officers’ possible violations of federal securities laws.
If you are a shareholder who suffered a loss, click here to participate.
On June 17, 2020, Prescience Point Capital Management issued a report alleging, among other things, that "at least 39%, or $205.3 million, of [Enphase's] reported U.S. revenue is fabricated." The report also claimed, citing former employees, that "a large portion of [the Company's] astronomical growth over the past two years is attributable to accounting gimmicks that artificially inflate revenue and profits."
On this news, the Company's share price fell as much as $14, or nearly 27%, during intraday trading on June 17, 2020.
Follow us for updates on Twitter: twitter.com/FRC_LAW.
If you purchased Enphase securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
