BENSALEM, Pa.–(BUSINESS WIRE)–$ENPH #fraud–Law Offices of Howard G. Smith announces an investigation on behalf of Enphase Energy, Inc. (“Enphase” or the “Company”) (NASDAQ: ENPH) investors concerning the Company and its officers’ possible violations of federal securities laws.
On June 17, 2020, Prescience Point Capital Management issued a report alleging, among other things, that “at least 39%, or $205.3 million, of [Enphase’s] reported U.S. revenue is fabricated.” The report also claimed, citing former employees, that “a large portion of [the Company’s] astronomical growth over the past two years is attributable to accounting gimmicks that artificially inflate revenue and profits.”
On this news, the Company’s share price fell as much as $14, or nearly 27%, during intraday trading on June 17, 2020.
If you purchased Enphase securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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