SolarEdge Technologies Inc.
A securities class action lawsuit has been filed in the USDC – S.D.N.Y. on behalf of all those who purchased or otherwise acquired common shares of SolarEdge Technologies Inc. (NASDAQ: SEDG) (“SolarEdge” or the “Company”) between August 6, 2020 and October 19, 2022, both dates inclusive (the “Class Period”).
According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that:
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”);
Ampt made claims against the Company for misappropriating Ampt’s patented technology;
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;
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 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
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.
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