The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Southern District of New York on behalf of shareholders of SolarEdge Technologies, Inc. who purchased securities between May 3, 2023 and October 19, 2023.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the Company’s distribution channels in Europe had higher than optimal inventory levels; (2) as a result, the Company was experiencing substantial cancellations and pushouts of existing backlog from its European distributors; (3) as a result, the Company’s backlog and guidance was overstated; and (4) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until January 2, 2024 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.