SolarEdge Technologies Faces Legal Scrutiny Over Potential Securities Fraud

Multiple Class Action Lawsuits Filed as Company's Share Price Plummets Following Revelations of Inventory and Backlog Issues

SolarEdge Technologies, Inc. is under investigation by Pomerantz LLP for potential securities fraud and other unlawful business practices.
SolarEdge's CEO, Zvi Lando, stated in a conference call that the company's distribution channels in Europe were experiencing higher than optimal inventory levels.
SolarEdge's share price fell significantly after the conference call and again after the company announced its preliminary financial results for the third quarter of 2023.
Multiple class action lawsuits have been filed against SolarEdge, alleging that the company made false and/or misleading statements and failed to disclose that it was experiencing substantial cancellations and pushouts of existing backlog from its European distributors.
Investors have until January 2, 2024, to apply to the Court to be appointed as lead plaintiff in the lawsuit.