NEW YORK, May 29, 2024 (GLOBE NEWSWIRE) — The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Enphase Energy, Inc. (“Enphase” or the “Company”) (NASDAQ: ENPH) between February 7, 2023 and April 25, 2023, both dates inclusive. You are hereby notified that the class action lawsuit Mark Bialic v. Enphase Energy, Inc., et al. (Case No. 3:24-cv-03216) has been commenced in the United States District Court for the Northern District of California. To get more information go to:
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500. There is no cost or obligation to you.
The complaint alleges that on April 25, 2023, Enphase issued a press release announcing its first quarter earnings. In pertinent part, defendants announced revenue in the United States had decreased by approximately 9% attributing it to macroeconomic conditions. Additionally, defendants put out a weak second quarter outlook for 2023 where revenue was estimated to be within the range of $700 million to $750 million.
Following this news, the price of Enphase’s common stock declined dramatically. From a closing market price of $220.60 per share on April 25, 2023, Enphase’s stock price fell to $163.83 per share on April 26, 2023, a decline of nearly 26% in the span of just a single day.
If you suffered a loss in ENPH securities, you have until July 29, 2024 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
