NEW YORK–(BUSINESS WIRE)–Zamansky LLC announces that it is investigating Enphase Energy, Inc. (NASDAQ: ENPH) (“Enphase” or the “Company”) for potential breaches of fiduciary duties by Enphase’s senior officers and board of directors. If you are a shareholder of Enphase who still holds your shares, please contact our firm for information.
A series of recent revelations have come to light indicating that Enphase allegedly issued false and misleading statements regarding its revenues, engaged in improper accounting practices, and overstated the Company’s reported base points expansion in gross margins. On June 17, 2020, research firm Prescience Point published a report indicating that “[a]t least $205.3m of ENPH’s reported FY19 US revenue is fabricated, and a significant portion of its international revenue is fabricated as well.” Around the same time, Prescience Point noted that Enphase insiders sold off $120.9 million in stock at inflated prices. The price of Enphase shares plummeted over 25% after this report was released.
According to Jake Zamansky, investment fraud attorney, Enphase’s officers and directors owe the Company and its shareholders fiduciary duties. “The recent announcements regarding these very serious allegations raise potential concern for investors,” Zamansky says. “Our law firm is investigating whether the officers and directors have breached their duties to Enphase and its shareholders.”
What Enphase Shareholders Can Do
If you are a current shareholder of Enphase who still holds your stock, please contact us to review or discuss your legal rights. You may, without obligation or cost to you, email [email protected] or call the law firm at (212) 742-1414.
About Zamansky LLC
Zamansky LLC is a leading investment fraud law firm with experience handling securities, hedge fund, ERISA and other shareholder class action and derivative litigation. We are investment fraud attorneys who represent both individual and institutional investors. Our practice is nationally recognized for our ability to aggressively prosecute cases and recover investment losses.
To learn more about Zamansky LLC, please visit our website, http://www.zamansky.com.
Jake Zamansky, 212-742-1414