SOLAREDGE INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates the Officers and Directors of SolarEdge Technologies, Inc. - SEDG

NEW YORK & NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into SolarEdge Technologies, Inc. (“SolarEdge” or the “Company”) (NasdaqGS: SEDG).

On August 1, 2023, the Company announced its 2Q 2023 financial results, disclosing that “distribution channels in Europe are experiencing higher than optimal inventory levels, especially as it relates to solar modules.” Then, on October 19, 2023, the Company announced its preliminary financial results for 3Q 2023, revealing that “[d]uring the second part of the third quarter of 2023, we experienced substantial unexpected cancellations and pushouts of existing backlog from our European distributors,” and that as a result “third quarter revenue, gross margin and operating income will be below the low end of the prior guidance range” and that the Company “anticipates significantly lower revenues in the fourth quarter of 2023 as the inventory destocking process continues.”

Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information, violating federal securities laws. Recently, the court presiding over the case denied the Company’s motion to dismiss in part, allowing the case to continue.

KSF’s investigation is focusing on whether SolarEdge’s officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.

If you have information that would assist KSF in its investigation, or have been a long-term holder of SolarEdge shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-938-0905 or email KSF Managing Partner Lewis Kahn ([e-mail]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-sedg/ to learn more.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, New Jersey, and a representative office in Luxembourg.

To learn more about KSF, you may visit www.ksfcounsel.com.