BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of SolarEdge Technologies, Inc. (“SolarEdge” or the “Company”) (NASDAQ: SEDG) investors concerning the Company’s possible violations of federal securities laws.
On October 19, 2023, SolarEdge disclosed that the Company “experienced substantial unexpected cancellations and pushouts of existing backlog” from its European distributors during the second part of the third quarter of 2023. The Company attributed the issues to “higher than expected inventory in the channels and slower than expected installation rates.”
On this news, SolarEdge’s stock price fell $31.98, or 27.3%, to close at $82.90 per share on October 20, 2023, thereby injuring investors.
If you purchased SolarEdge 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
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