The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Enphase Energy, Inc. (NASDAQ: ENPH) who purchased shares between February 26, 2019 and June 17, 2020. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.
In particular, the Enphase lawsuit alleges 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 (4) as a result of the foregoing, Defendants’ public statements were materially false and misleading at all relevant times.
Shareholders have until August 17, 2020 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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