A lawsuit was filed on behalf of investors in SolarEdge Technologies, Inc. (NASDAQ:SEDG) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 11/29/2022 -- An investor, who purchased shares of SolarEdge Technologies, Inc. (NASDAQ: SEDG), filed a lawsuit over alleged Securities Laws violations by SolarEdge Technologies, Inc. in connection with certain allegedly false and misleading statements.
Investors who purchased shares of SolarEdge Technologies, Inc. (NASDAQ: SEDG), you have certain options and for certain investors are short and strict deadlines running. Deadline: January 3, 2023. NASDAQ: SEDG investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
Israel based SolarEdge Technologies, Inc. together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. On August 28, 2022, the U.S. International Trade Commission ("ITC") agreed to review a patent infringement case filed by Ampt LLC ("Ampt") against SolarEdge on July 28, 2022.
On news of the ITC's vote, SolarEdge's stock price fell $8.47 per share, or 2.94%, to close at $279.46 per share on August 29, 2022.
Then, on October 19, 2022, a federal judge in the U.S. District Court for the District of Delaware stayed a parallel proceeding, filed against SolarEdge by Ampt and based on substantially similar allegations, pending the ITC's investigation.
Shares of SolarEdge Technologies, Inc. (NASDAQ: SEDG) declined from $211.86 per share on October 18, 2022 to $194.00 per share on October 21, 2022.
The plaintiff claims that between August 6, 2020 and October 19, 2022, the defendants made false and/or misleading statements and/or failed to disclose that 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"), that Ampt made claims against the Company for misappropriating Ampt's patented technology, that 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, that 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, that which in turn 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 that 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. When the true details entered the market, the lawsuit claims that investors suffered damages.
Those who purchased shares of SolarEdge Technologies, Inc. (NASDAQ: SEDG) have certain options and should contact the Shareholders Foundation.
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About The Shareholders Foundation
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