On or around 12/08/2020 (Date of last review)
Filing Date: June 17, 2020
According to the Complaint, Enphase Energy, Inc. is a global energy technology company that “deliver[s] smart, easy-touse solutions that manage solar generation, storage and communication on one intelligent platform.” The Company asserts that it “revolutionized the solar industry with [its] microinverter technology” and that it “produce[s] a fully integrated solar-plus-storage solution.”
The Complaint alleges that Enphase misrepresented and/or failed to disclose to investors that: (1) its revenues, both U.S. and international, were inflated; (2) the Company engaged in improper deferred revenue accounting practices; (3) the Company’s reported base points expansion in gross margins were overstated; and that (4) as a result of the foregoing, Defendants’ public statements were materially false and misleading at all relevant times.
On November 30, 2020, the Court issued an Order appointing Lead Plaintiff and Counsel.
Company & Securities Information
Defendant: Enphase Energy, Inc.
Industry: Alternative Energy
Headquarters: United States
Ticker Symbol: ENPH
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Gregory A. Hurst, et al. v. Enphase Energy, Inc., et al.
COURT: N.D. California
DOCKET #: 20-CV-04036
JUDGE: Hon. Beth Labson Freeman
DATE FILED: 06/17/2020
CLASS PERIOD START: 02/26/2019
CLASS PERIOD END: 06/17/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Block & Leviton LLP (Boston)
First Identified Complaint (FIC) Filings:
Class Action Complaint for Violations of the Federal Securities Laws
U.S. District Court Civil Docket
—Reference Complaint Complaint Related Data is not available
Related District Court Filings
—Related District Court Filings Data is not available