Enphase Sued in Federal Securities Case With April 20 Deadline for Investors to Seek Lead Role

The complaint focuses on claimed overstatements about channel inventory control plus mitigation of the 25D tax credit’s expiration.

Overview

Robbins Geller announced a securities class action captioned Tripathi v. Enphase Energy, Inc., No. 26-cv-01380, filed in the U.S. District Court for the Northern District of California.
Investors who bought Enphase securities between April 22, 2025 and October 28, 2025 can move to be lead plaintiff by April 20, 2026.
The suit alleges Enphase overstated its ability to manage channel inventory and to offset the effects of the Residential Clean Energy Credit’s end, thereby overstating its prospects.
According to the complaint, Enphase’s October 28, 2025 update flagged elevated channel inventory, anticipated lower Q4 2025 battery shipments, and a Q1 2026 revenue hit, after which the stock fell more than 15%.
Rosen Law Firm and Robbins Geller are soliciting class members, and under the PSLRA a lead plaintiff will direct the case and select counsel, with no class certified at this stage.