-

National Litigation Powerhouse Labaton Sucharow Announces the Filing of a Class Action Against Enphase Energy, Inc. (ENPH) and Encourages Stock, Options, and Derivative Investors to Contact the Firm

NEW YORK--(BUSINESS WIRE)--Labaton Sucharow LLP, a nationally ranked investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of stock, options, and derivatives of Enphase Energy, Inc. (NASDAQ: ENPH) between February 26, 2019 and June 17, 2020, inclusive (the "Class Period"). The lawsuit seeks to recover damages for Enphase investors under the federal securities laws.

The complaint alleges that Enphase misrepresented and/or failed to disclose to investors that: (1) its revenues, both U.S. and international, were inflated; (2) the Company engaged in improper deferred revenue accounting practices; (3) the Company'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.

In particular, on June 17, 2020, Prescience Point Capital issued negative analysis reporting that 39% or $205M of Enphase’s revenue "fabricated" by "accounting gimmicks that artificially inflate revenue and profits." Prescience also claimed former Enphase employees in India believe the company is utilizing an offshore finance and accounting team to help executives perpetrate potential accounting violations.

On this news, Enphase dropped as much as 15% on heavy volume.

If you 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 David J. Schwartz, Esq. of Labaton Sucharow, at (800) 321-0476, or via email at dschwartz@labaton.com.

About the Firm

Labaton Sucharow LLP is one of the world’s leading complex litigation firms representing clients in securities, antitrust, corporate governance and shareholder rights, and consumer cybersecurity and data privacy litigation. Labaton Sucharow has been recognized for its excellence by the courts and peers, and it is consistently ranked in leading industry publications. Offices are located in New York, NY, Wilmington, DE, and Washington, D.C. More information about Labaton Sucharow is available at http://www.labaton.com.

Contacts

David J. Schwartz
(800) 321-0476
dschwartz@labaton.com or recover@labaton.com

Industry:

Labaton Sucharow LLP

NASDAQ:ENPH
Release Versions
English

Contacts

David J. Schwartz
(800) 321-0476
dschwartz@labaton.com or recover@labaton.com

More News From Labaton Sucharow LLP

Labaton Keller Sucharow LLP Files Securities Class Action Against Bank of America Corporation and Certain of Its Executives

NEW YORK--(BUSINESS WIRE)--Labaton Keller Sucharow LLP (“Labaton”) has filed a securities class action lawsuit (the “Action”) on behalf of its client the New England Teamsters Pension Fund (“New England Teamsters”) against Bank of America Corporation (“Bank of America” or the “Company”) (NYSE: BAC) and certain of its executives (collectively, “Defendants”). The Action, which is captioned New England Teamsters Pension Fund v. Bank of America Corporation., No. 26-cv-09137 (S.D.N.Y.), asserts claim...

Labaton Keller Sucharow Launches Whistleblower Practice Led by Former SEC Acting Chair and Senior Enforcement Leader

WASHINGTON--(BUSINESS WIRE)--Labaton Keller Sucharow LLP, a global leader in complex litigation and investor and consumer protection, announces the launch of its Whistleblower Representation Practice, led by former SEC Acting Chair and Commissioner Allison Herren Lee and former SEC Senior Counsel Andrew Feller. “Establishing a dedicated whistleblower practice is a natural extension of our mission to protect investors, promote corporate accountability, and strengthen the integrity of the financi...

Labaton Keller Sucharow LLP Pursues Claims Against Snap Inc. for Negative Effects on Adolescent Mental Health

NEW YORK--(BUSINESS WIRE)--Labaton Keller Sucharow LLP (“Labaton” or the “Firm”), a premier plaintiff’s law firm, is pursuing individual arbitration claims against Snap Inc., the company behind the social media app Snapchat, on behalf of individuals who suffered mental or physical harm as a result of using the app during childhood or adolescence. Snapchat is a social media app where users can send disappearing photos and videos. The Firm is representing eligible individuals in arbitration claim...
Back to Newsroom