A securities class action has been filed against Enphase Energy, Inc. (ENPH) on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Enphase securities between April 22, 2025 through October 28, 2025. This case has been filed in the USDC – NDCA.
The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Enphase overstated its ability to manage its channel inventory; (ii) Enphase overstated its ability to mitigate effects arising from the termination of the 25D Credit; (iii) accordingly, Enphase overstated its financial and operational prospects; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
On October 28, 2025, Enphase reported its financial results for the third quarter of 2025 and held a related earnings call. Among other items, Enphase’s management reported that it expected 2025 to close on a weak note, with elevated channel inventory resulting in lower battery storage shipments in the fourth quarter, and that the expiration of the 25D Credit would negatively impact revenues for the first quarter of 2026.
On this news, Enphase’s stock price fell $5.56 per share, or 15.15%, to close at $31.14 per share on October 29, 2025.