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SolarEdge Technologies Inc. Class Action Lawsuit - SEDG

28 days left to seek lead plaintiff status

Case Summary

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The SolarEdge class action lawsuit seeks to represent purchasers or acquirers of SolarEdge Technologies Inc. (NASDAQ: SEDG) common shares between August 6, 2020 and October 19, 2022, inclusive (the “Class Period”).  Captioned Reford v. SolarEdge Technologies Inc., No. 22-cv-09423 (S.D.N.Y.), the SolarEdge class action lawsuit charges SolarEdge, certain of its top executives, and a SolarEdge subsidiary, SolarEdge Technologies Limited, with violations of the Securities Exchange Act of 1934.

If you suffered substantial losses and wish to serve as lead plaintiff of the SolarEdge class action lawsuit, please provide your information in the form on this page.  You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at jsanchez@rgrdlaw.com.  Lead plaintiff motions for the SolarEdge class action lawsuit must be filed with the court no later than January 3, 2023.

CASE ALLEGATIONS: SolarEdge provides solar power optimization and photovoltaic monitoring solutions for solar energy systems, offering optimizers, inverters, monitoring equipment, tools, and accessories for power harvesting, conversion, and efficiency while serving customers worldwide.

The SolarEdge class action lawsuit alleges that throughout the Class Period defendants made 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 SolarEdge 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 SolarEdge’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.

On August 8, 2022, PV Magazine issued a news article titled “Ampt lawsuit asks that SolarEdge remove inverters and controllers from market,” which reported a previously filed lawsuit filed by Ampt alleging that SolarEdge was infringing on one or more claims of Ampt’s patents.  On this news, SolarEdge’s stock price declined.

Then, on August 29, 2022, the U.S. International Trade Commission (“ITC”) announced that it had agreed to review a patent infringement case filed by Ampt against SolarEdge on July 28, 2022.  On this news, SolarEdge’s stock price declined.

Finally, on October 19, 2022, Judge Connolly in the District Court of Delaware stayed a parallel proceeding filed against SolarEdge by Ampt and based on substantially similar allegations, styled Ampt, LLC v. SolarEdge Techs., Inc., No. 1:22-cv-00997 (D. Del.), pending the ITC’s investigation.  On this news, SolarEdge’s stock price declined yet again, further damaging investors.

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired SolarEdge common shares during the Class Period to seek appointment as lead plaintiff in the SolarEdge class action lawsuit.  A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.  A lead plaintiff acts on behalf of all other class members in directing the SolarEdge class action lawsuit.  The lead plaintiff can select a law firm of its choice to litigate the SolarEdge class action lawsuit.  An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the SolarEdge class action lawsuit.

ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: Robbins Geller Rudman & Dowd LLP is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases.  The Firm is ranked #1 on the 2021 ISS Securities Class Action Services Top 50 Report for recovering nearly $2 billion for investors last year alone – more than triple the amount recovered by any other plaintiffs’ firm.  With 200 lawyers in 9 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.

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