According to the Complaint, SolarEdge Technologies, Inc. provides inverter solutions for a solar photovoltaic (PV) system. The Company’s offerings include power optimizers, inverters, monitoring services, energy storage and smart energy management via a cloud-based monitoring platform.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Complaint alleges Defendants failed to disclose to investors that: (1) the Company’s distribution channels in Europe had higher than optimal inventory levels; (2) that, as a result, the Company was experiencing substantial cancellations and pushouts of existing backlog from its European distributors; (3) that, as a result, the Company’s backlog and guidance was overstated; and (4) that, 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.

On February 7, 2024, the Court issued an Order consolidating cases and appointing Co-Lead Plaintiffs and Counsel. All future docketing was ordered to be done in the lead case 23-CV-09748.

Co-Lead Plaintiffs filed a consolidated amended Complaint on April 22, 2024. Defendants filed a Motion to Dismiss the consolidated amended Complaint on July 15. On December 4, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss.

Lead Plaintiff filed a second consolidated amended Complaint on January 3, 2025.