NEW YORK, Nov. 16, 2023 (GLOBE NEWSWIRE) -- Kaplan Fox & Kilsheimer LLP reminds investors that a complaint has been filed on behalf of investors that purchased or otherwise acquired SolarEdge Technologies, Inc. (“SolarEdge” or the “Company”) (NASDAQ: SEDG) securities between May 3, 2023 and October 19, 2023, inclusive (the “Class Period”). Click Here to Join Investigation.
If you acquired SolarEdge securities during the Class Period and would like to discuss this case, please click here. You may also contact us by emailing pmayer@kaplanfox.com or calling (646) 315-9003.
If you are a member of the proposed Class, you may move the court no later than January 2, 2024 to serve as a lead plaintiff for the purported class. If you have losses, we encourage you to contact us to learn more about the lead plaintiff process.
On Oct. 19, 2023, SolarEdge announced its preliminary financial results for the third quarter of 2023, disclosing 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. . . ." The Company attributed the cancellations and pushouts to “higher than expected inventory in the channels.” As a result, SolarEdge stated that "third quarter revenue, gross margin and operating income will be below the low end of the prior guidance range."
Following this news, the Company's share price fell $31.08, or 27.2%, to close at $82.90 per share on October 20, 2023 on heavy trading volume.
WHY CONTACT KAPLAN FOX - Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey. With over 50 years of experience in complex litigation, Kaplan Fox offers the professional experience and track record that clients demand. Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
If you have any questions about this Notice, your rights, or your interests, please contact:
Pamela Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
E-mail: pmayer@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
