WELLINGTON, FL / ACCESSWIRE / July 7, 2020 / Barbuto & Johansson, P.A. ("BARJO" or the "Firm") and Of Counsel, Neil Rothstein, Esq. (with over 30 years of Securities Class Action experience, including cases against ENRON and HALLIBURTON), remind investors that they have until August 17, 2020 to file lead plaintiff applications in the securities class action lawsuit filed against Enphase Energy, Inc. (NASDAQGS:ENPH). Shareholders with losses exceeding $100,000 are encouraged to contact the Firm to discuss their options.
On June 17, 2020, Prescience Point Capital Management ("Prescience Point"), a private investment manager that focuses on investigations of public companies, published a negative research report on Enphase Energy, Inc. supporting its short position. On news of the report, the Company's share price fell nearly 26%. According to Prescience Point, its "…extensive research reveals smoking gun evidence of massive fraud by ENPH; we believe at least $205m of revenue has been fabricated. We are short the stock and expect a delisting."
A lawsuit, Gregory A. Hurst v. Enphase Energy, Inc., et al., Case No.: 5:20-cv-04036, has been filed in the U.S. District Court for the Northern District of California on behalf of shareholders who purchased the Company's common stock between February 26, 2019 and June 17, 2020, inclusive (the "Class Period"). The lawsuit alleges in part, that the Defendants misrepresented and/or failed to disclose to investors that Enphase's revenues were inflated, that Enphase engaged in improper deferred revenue accounting practices, and the Company's reported base points expansion in gross margins were overstated.
If you purchased shares of Enphase between February 26, 2019 and June 17, 2020 and would like to discuss the case and your options as a class member and serving as a lead plaintiff, you may, without obligation or cost, contact attorney Anthony Barbuto at 888-715-2520 (office), text or call at 561-531-8221 (cellular), or via email at [email protected] or Neil Rothstein via email at [email protected]. BARJO believes strongly that the choice of a qualified lead plaintiff can have a significant impact on the successful outcome of a case.
CONTACT:
Barbuto & Johansson, P.A.
Anthony Barbuto, Esq.
1-888-715-2520
12773 Forest Hill Blvd., 101
Wellington, FL 33414
www.barjolaw.com
SOURCE: Barbuto & Johansson Firm