A securities class action lawsuit has been filed against Enphase Energy Inc. and certain officers in the U.S. District Court for the Northern District of California. The case covers investors who bought or acquired Enphase securities between April 22, 2025 and October 28, 2025, alleging misleading statements about channel inventory management and the company’s ability to mitigate impacts from the early termination of the U.S. Residential Clean Energy Credit. Enphase shares fell about 15% on Oct. 29, 2025 after the company reported elevated channel inventory and warned of revenue pressure tied to the credit’s expiration.

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