If you suffered losses in SolarEdge stock, contact SolarEdgestock loss lawyer Timothy L. Miles about a SolarEdgeclass action lawsuit
Everything You Need to Know about the SolarEdge Class Action Lawsuit
The SolarEdge class action lawsuit seeks to represent purchasers or acquirers of SolarEdge Technologies, Inc. (NASDAQ: SEDG) securities between May 3, 2023 and October 19, 2023, inclusive (the “Class Period”). Captioned Shen v. SolarEdge Technologies, Inc., No. 23-cv-09748 (S.D.N.Y.), the SolarEdge class action lawsuit charges SolarEdge and certain of its top executive officers with violations of the Securities Exchange Act of 1934. If you suffered losses in SolarEdge stock and wish to serve as lead plaintiff in the SolarEdge class action lawsuit, please contact SolarEdge Stock Loss Lawyer Timothy L. Miles by calling 855/846-6529 or via e-mail at [email protected] or by submitting a contact form. Lead plaintiff motions for the SolarEdge class action lawsuit must be filed with the court no later than January 2, 2024.
Allegations in the SolarEdge Class Action Lawsuit
SolarEdge provides inverter solutions for a solar photovoltaic (PV) system.
The SolarEdge class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) SolarEdge’s distribution channels in Europe had higher than optimal inventory levels; (ii) as a result, SolarEdge was experiencing substantial cancellations and pushouts of existing backlog from its European distributors; and (iii) consequently, SolarEdge’s backlog and guidance was overstated.
The SolarEdge class action lawsuit further alleges that on August 1, 2023, SolarEdge CEO, defendant Zvi Lando revealed that “distribution channels in Europe are experiencing higher than optimal inventory levels, especially as it related to solar modules.” The SolarEdge class action lawsuit alleges that on this news, the price of SolarEdge stock fell more than 18%. The SolarEdge class action lawsuit further alleges that on October 19, 2023, SolarEdge disclosed that “[d]uring the second part of the third quarter of 2023, we experienced substantial unexpected cancellations and pushouts of existing backlog from our European distributors” and “[a]s a result, third quarter revenue, gross margin and operating income will be below the low end of the prior guidance range.” SolarEdge further revealed that it “anticipates significantly lower revenues in the fourth quarter of 2023 as the inventory destocking process continues,” according to the complaint. The SolarEdge class action lawsuit alleges that on this news, the price of SolarEdge stock fell more than 27%.
WHAT IS THE LEAD PLAINTIFF DEADLINE IN THE SOLAREDGE CLASS ACTION LAWSUIT?
When a securities class action is filed such as the SolarEdge class action lawsuit, the person who files the first complaint is required to publish a notice announcing the filing. Anyone who wants to be lead plaintiff on behalf of the class in the SolarEdge class action lawsuit must thereafter file a motion to be appointed as lead plaintiff(s) no later than 60 days after the notice was published.
WHAT ARE MY CHOICES IF I RECEIVE A NOTICE IN THE SolarEdge CLASS ACTION LAWSUIT?
First, read the notice very carefully. You have two choices. First, you can do nothing and remain a member of the class represented by lead counsel. Second, if you believe you have a large enough loss to justify it, you can opt out of the SolarEdge class action lawsuit and file your own separate lawsuit. Note, that if you opt-out, you will not be able to participate in any settlement or recovery obtained in the SolarEdge class action lawsuit.
IF I RECEIVE A SETTLEMENT FROM FINRA CAN I STILL PARTICIPATE IN THE SOLAREDGE LAWSUIT?
Yes, the acceptance of restitution or compensation from a FINRA regulatory settlement does not waive your right to monetary or other benefits through the courts, arbitration, or mediation. Therefore, even if you received a settlement from FINRA, you can still participate in the SolarEdge class action lawsuit.
what is the lead plaintiff process in the SolarEdge class action lawsuit?
If you suffered losses in SolarEdge stock, call a SolarEdge
Stock Loss Lawyer about a SolarEdge class action lawsuit
A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the securities class action lawsuit. An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. If you suffered losses in SolarEdge stock and have further questions, contact SolarEdge stock loss Lawyer Timothy L. Miles today who will fight to recover your damages in a SolarEdgelawsuit if you suffered losses in SolarEdge stock.
CAN A NON-U.S. INVESTOR SERVE AS LEAD PLAINTIFF IN THE SolarEdge CLASS ACTION LAWSUIT IF THEY SUFFERED LOSSES IN SolarEdge stock?
If I Suffered Losses in SolarEdge Stock, What Are the Benefits of Serving as Lead Plaintiff in the SolarEdge Class Action lawsuit?
Serving as a Lead Plaintiff in the SolarEdge class action lawsuit has several advantages and important benefits including:
A Lead Plaintiff is able to negotiate more competitive attorney fees and reduce other litigation costs by actively monitoring the class counsel.
Lead Plaintiff has the benefit of being able to manage the litigation primarily by overseeing and monitoring the progress of the action and the efforts of counsel, and being able to review and comment on important filings and other documents pertaining to the prosecution of the action.
There is no financial risk in serving as a Lead Plaintiff because Lead Counsel advances all costs and expenses incurred it the prosecution of the case and will be reimbursed only if there is a successful settlement or judgment recovery on behalf of the class.
Lead Plaintiff has the benefit involved and active in all negotiations relating to any settlement.
Lead Plaintiffs that continue owning the stock of the defendant will enjoy the long-term benefits from governance reformresulting from the litigation.
Thus, there are numerous benefits and other advantages to serving as lead plaintiff in a class action against SolarEdgeif you suffered losses in SolarEdge stock.
WHAT RESPONSIBILITIES WILL THE LEAD PLAINTIFF HAVE IN THE SOLAREDGE CLASS ACTION LAWSUIT?
A Lead Plaintiff owes a fiduciary duty to the class, and therefore, must act in the best interest of the class in the SolarEdge class action lawsuit. Some of the responsibilities of the Lead Plaintiff in the SolarEdge class action lawsuit include:
Selecting, monitoring, and overseeing Lead Counsel.
Reviewing and commenting on court filings on behalf of the class.
Discussing litigation strategies with the Lead Counsel.
Attending depositions (if necessary) and giving a deposition.
Attending hearings (if necessary).
Participating in mediation and the trial (if necessary).
Provide input on any decision concerning the settlement of the securities class action.
Can I Be Appointed Lead Plaintiff in the SolarEdge Class Action Lawsuit if I Purchased Shares Outside of the Class Period?
Will the Lead Plaintiffs Get More Money than Class Members if the SolarEdge Class Action Lawsuit?
No, but they may be entitled to recover their reasonable expenses incurred with are directly related to representing the class in the SolarEdgeclass action lawsuit. Under the Private Securities Litigation Reform Act of 1995, a Lead Plaintiff is only entitled to his or her pro rata share of any recovery and does not receive any additional money for serving as a representative party on behalf of the class. However, a court, in its discretion, may approve an award of “reasonable costs and expenses (including lost wages)” to a Lead Plaintiff that directly relates to the representation of the class in the SolarEdge class action lawsuit on behalf of investors who suffered losses in SolarEdge stock.
Can I Be Lead Plaintiff in the SolarEdge class action lawsuit if I am Lead Plaintiff in Another Case?
Yes, unless you have been a lead plaintiff in more than five securities class actions during any three-year period which is expressly prohibited by the securities laws. Otherwise, if you suffered losses in SolarEdge stock, you may move to be appointed lead plaintiff in the SolarEdge class action Lawsuit.
Can the Court Appoint More than One Lead Plaintiff in the SolarEdge Lawsuit?
How Was the Class Period Determined in the SolarEdge lawsuit?
In a securities fraud class action, the class period refers to a period of time in which it is alleged the price of the company’s stock was artificially inflated due to false and misleading statements made by company executives. The class period starts when the company makes an untrue statement of material fact about the company or fails to disclose a material fact necessary to render other statements not misleading. The class period ends when the truth is revealed to the investing public through a corrective disclosure.
In order to be a part of the class in the SolarEdge lawsuit, you must have suffered losses in SolarEdge stock by purchasing during the class period when it is alleged the price of the stock was artificially inflated to be included in the class action against SolarEdge.
CAN I SELL MY STOCK AND STILL BE A MEMBER OF THE CLASS IN THE SOLAREDGE CLASS ACTION LAWSUIT?
Yes. There is no requirement for you to retain ownership of the stock after the class period has expired to participate in the SolarEdge class action lawsuit.
How Can a SolarEdge Stock Loss Lawyer Help Me if I Suffered Losses in SolarEdge Stock?
Contact SolarEdge stock loss lawyer Timothy L. Miles about a SolarEdge class action lawsuit
A SolarEdge stock loss Lawyer is well-versed in the complex laws that govern the securities industry and litigation and focuses on representing individual investors or funds who have been the victims of fraud or who have disputes with investment professionals. Ordinary individual investors, including civil servants, teachers, nurses, and retirees, may need a securities lawyer. In most cases, they have lost money due to mistakes, incompetence, or fraud by an investment professional.