NEW YORK, Dec. 9, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of SolarEdge Technologies, Inc. (NASDAQ: SEDG).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/solaredge-class-action-submission-form/?id=34398&from=4
This lawsuit is on behalf of a class consisting of persons who purchased or otherwise acquired common shares of SolarEdge stock between August 6, 2022 to October 19, 2022, both dates inclusive.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until January 3, 2023 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, SolarEdge Technologies, Inc. issued materially 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 the Company 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 the Company'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.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
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New York, New York 10036
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SOURCE Jakubowitz Law
