Enphase(US:ENPH) Globenewswire·2026-03-10 19:33Core Viewpoint - A class action lawsuit has been filed against Enphase Energy, Inc. and certain officers for alleged violations of federal securities laws during the Class Period from April 22, 2025, to October 28, 2025, seeking damages for misleading statements regarding the company's business and financial prospects [1][7]. Group 1: Lawsuit Details - The class action was filed in the United States District Court for the Northern District of California, seeking to recover damages for all persons and entities that purchased Enphase securities during the specified Class Period [1]. - Investors have until April 20, 2026, to request appointment as Lead Plaintiff for the class [2]. Group 2: Company Background - Enphase Energy, founded in March 2006, focuses on solar generation, storage, and communication solutions, partnering with financing companies to offer third-party ownership arrangements for solar and battery products [4]. - The company reported "safe harbor revenue," defined as sales made to customers planning to install Enphase products over more than a year [4]. Group 3: Tax Credit Context - The Residential Clean Energy Credit allowed homeowners to deduct 30% of costs for clean energy property installed at their homes, which was favorable for solar products, including those from Enphase [5]. - The 25D Credit was set to terminate on December 31, 2025, seven years earlier than originally planned, impacting the financial outlook for Enphase [6]. Group 4: Allegations and Financial Impact - The Complaint alleges that Enphase made materially false and misleading statements about its ability to manage channel inventory and mitigate the effects of the 25D Credit termination, overstating its financial and operational prospects [7]. - Following the announcement of weak financial results and expectations for lower battery storage shipments, Enphase's stock price fell by $5.56 per share, or 15.15%, closing at $31.14 on October 29, 2025 [8][9].