(MENAFN- GlobeNewsWire - Nasdaq) 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 ... 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
...
Tel: (212) 363-7500
Fax: (212) 363-7171
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