The Gross Law Firm issues the following notice to shareholders of SolarEdge Technologies, Inc..
Shareholders who purchased shares of SEDG during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.
CLASS PERIOD: This lawsuit is on behalf of a class consisting of persons who purchased or otherwise acquired common shares of SolarEdge stock between August 6, 2022 to October 19, 2022, both dates inclusive.
ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) the designs of the power optimizers, inverters, and components thereof used to develop SolarEdge’s products potentially originated with and were misappropriated from Ampt LLC (“Ampt”), a competitor in the renewable energy industry; (ii) Ampt made claims against the Company for misappropriating Ampt’s patented technology, (iii) evidentiary support existed for the allegations that SolarEdge misappropriated certain patents relating to the design and development of the Company’s power optimizers and inverters; (iv) as a result, SolarEdge faced a threat of regulatory and/or court action, which could prohibit the import, marketing, and sale of its power optimizers and inverters, including solar energy systems that contain such products; which in turn (v) seriously threatened SolarEdge’s ability to monetize on their solar energy systems that contain the power optimizers and inverters in the United States and generate revenue; and (vi) certain revenues generated from the sale of power optimizers and inverters were potentially based on SolarEdge’s unlawful activities, including the misappropriation of patented designs by Ampt.
NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of SEDG during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is January 3, 2023. There is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company’s stock. Attorney advertising. Prior results do not guarantee similar outcomes.
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