NEW YORK CITY, NY / ACCESSWIRE / November 20, 2024 / Pomerantz LLP is investigating claims on behalf of investors of Enphase Energy, Inc. ("Enphase" or the "Company") (NASDAQ:ENPH). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Enphase and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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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."
On this news, Enphase's stock price fell $13.76 per share, or 14.92%, to close at $78.47 per share on October 23, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP