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The filed complaint alleges that Enphase Energy, Inc. made materially false and/or misleading statements and/or failed to disclose that: On October 22, 2024, Enphase issued a press release announcing its financial results for the third quarter of 2024. Among other items, Enphase reported weaker than expected earnings and revenue, and forecast fourth quarter revenues that fell short of analyst expectations. Guggenheim downgraded Enphase to Sell from Neutral, noting that the Company "is losing share to Chinese competitors who are willing to sell at less than half Enphase's level." Following this news, Enphase's stock price fell over 14% on October 23, 2024.
In order to be eligible to join the ENPH class action lawsuit, you must have incurred a loss on shares of Enphase Energy, Inc. purchased during the class period listed above.
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