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Allegations
The filed complaint alleges that SolarEdge Technologies, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company’s distribution channels in Europe had higher than optimal inventory levels; (2) as a result, the Company was experiencing substantial cancellations and pushouts of existing backlog from its European distributors; (3) as a result, the Company’s backlog and guidance was overstated; and (4) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.