Enphase Energy, Inc. (NASDAQ: ENPH)

This investigation is for anyone who acquired securities in Enphase Energy, Inc. (NASDAQ: ENPH) prior to April 23, 2024.

The Law Offices of Howard G. Smith believes that the Company and certain of its executives violated federal law. Specifically, the Law Offices of Howard G. Smith believes that the Company misled investors regarding its financial condition. More specifically, the Law Offices of Howard G. Smith believes that the Company misled investors by stuffing the Company’s channels of distribution for the purpose of overstating revenue.

On April 4, 2024, Enphase disclosed that its Executive Vice President and Chief Commercial Officer would be stepping down from his position due to “personal reasons.” On this news, Enphase’s stock price fell $8.51, or 7%, to close at $112.27 per share on April 5, 2024, thereby injuring investors. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume. Then, on April 23, 2024, Enphase released its first quarter 2024 financial results, revealing a 34% decrease in revenue due to “seasonality and a further softening in U.S. demand” while the Company “continued to reduce shipments to manage channel inventory.” On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Enphase Energy, Inc. (NASDAQ: ENPH) prior to April 23, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.