LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Enphase Energy, Inc. (“Enphase” or “the Company”) (NASDAQ: ENPH) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Enphase is the subject of a short seller report published by Prescient Point Capital Management on June 17, 2020. The report alleges that the Company faked $205.3 million in sales, or 39% of its reported U.S. revenue. Among the report’s other allegations is that the Company reported reduction in unit costs that would be nearly impossible and potentially inappropriate stock trading by executives and officers. Based on this report, shares of Enphase traded down 26% on the same day.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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