LEVI & KORSINSKY, LLP: INSTITUTIONAL ENPH HOLDERS FACE PORTFOLIO LOSSES FROM ALLEGED FRAUD

Notice to Pension Funds, Asset Managers, and Fiduciaries

NEW YORK, March 25, 2026 /PRNewswire/ -- Institutional investors holding positions in Enphase Energy, Inc. (NASDAQ: ENPH) during the period April 22, 2025 through October 28, 2025 may wish to evaluate lead plaintiff opportunities in a pending securities class action. Request an institutional investor loss assessment. You may also contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.

ENPH shares lost 15.15% of their value following corrective disclosures on October 28, 2025, when the Company revealed that Q4 2025 revenue would fall as low as $310 million against analyst estimates exceeding $374 million. The Court has set April 20, 2026 as the deadline to apply for lead plaintiff appointment.

Fiduciary Obligations and Recovery Options

Fiduciaries overseeing portfolios that included ENPH securities during the Class Period should consider whether participation in this action is consistent with their obligations. Key considerations include:

• Pension funds and endowments that held ENPH shares between April 22, 2025 and October 28, 2025 may have claims for losses caused by alleged misstatements about channel inventory management and the Company's ability to offset the early termination of the 25D Clean Energy Tax Credit
• Lead plaintiff appointment allows institutional holders to select counsel, shape litigation strategy, and oversee settlement negotiations on behalf of the entire class
• Serving as lead plaintiff requires no out-of-pocket payment; counsel fees are awarded by the court only upon a successful recovery
• Institutions with the largest financial interest in the relief sought by the class are typically favored by courts under the PSLRA's selection framework
• Portfolio managers may have an independent duty to evaluate recovery options to avoid potential ERISA or fiduciary liability for failing to pursue available remedies

Contact us for institutional recovery options or call (212) 363-7500.

Portfolio Impact Assessment

The lawsuit, filed in the United States District Court for the Northern District of California, contends that Enphase overstated its financial and operational outlook by misrepresenting its control over distribution channel inventory levels and its preparedness for the revenue impact of the 25D Credit expiration. When Q3 2025 results revealed that $70.9 million of reported revenue consisted of safe harbor shipments pulled forward from Q4, and that the Company would need to reduce channel shipments heading into 2026, ENPH shares declined $5.56 per share.

Case Summary

"Institutional investors play a critical role in securities class actions. Their participation strengthens the litigation and helps ensure that all affected shareholders benefit from the recovery process." -- Joseph E. Levi, Esq.

The action asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 on behalf of all purchasers of ENPH securities during the Class Period who suffered losses following the corrective disclosures.

INSTITUTIONAL INVESTOR REPRESENTATION -- Levi & Korsinsky, LLP provides sophisticated counsel to institutional investors evaluating lead plaintiff opportunities. The firm has recovered hundreds of millions of dollars. Ranked among ISS Top 50 for seven consecutive years.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171

SOURCE Levi & Korsinsky, LLP