Law Offices of Howard G. Smith reminds investors of the upcoming July 29, 2024 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Enphase Energy, Inc. (“Enphase” or the “Company”) (NASDAQ: ENPH) securities between February 7, 2023 and April 25, 2023, inclusive (the “Class Period”).

Investors suffering losses on their Enphase investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com.

On April 25, 2023, Enphase released its first quarter 2023 earnings, revealing that revenue in the United States had decreased by approximately 9%, citing macroeconomic conditions. Additionally, the Company lowered its second quarter 2023 outlook.

On this news, Enphase’s stock price fell $56.77, or 25.7%, to close at $163.83 per share on April 26, 2023, thereby injuring investors.

The complaint filed in this class action 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, Defendants failed to disclose to investors that: (1) Enphase had been experiencing a decrease in battery shipments to Europe and California; (2) Enphase had been experiencing a slowdown in battery deployment and adoption; (3) Enphase had been experiencing a longer transition period with NEM 3.0 and slower output of inverters manufactured by the new US base manufacturing lines; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

If you purchased or otherwise acquired Enphase securities during the Class Period, you may move the Court no later than July 29, 2024 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

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