NEW YORK, Nov. 04, 2022 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that it has filed a securities class action lawsuit in the United States District Court for the Southern District of New York on behalf of any person or entity that purchased it became SolarEdge Technologies Inc. (“SolarEdge” or “Company”) SEDG between August 6, 2020 and October 19, 2022, both dates inclusive (the “Class Period”).

According to the lawsuit, the defendants made false and/or misleading claims and failed to disclose to investors that: (i) the designs of the power optimizers, inverters and their components used in the development of SolarEdge’s products may have originated from Ampt and have been abused by ampt; (ii) Ampt asserted claims against the Company for misappropriation of Ampt’s patented technology; (iii) there was evidence supporting allegations that SolarEdge misused certain patents related to the design and development of the company’s power optimizers and inverters; (iv) as a result, SolarEdge faced governmental and/or legal action that could prohibit the import, marketing and sale of its power optimizers and inverters, including solar power systems incorporating such products; which, in turn, (v) seriously jeopardized SolarEdge’s ability to monetize and generate revenue from its solar energy systems, which include power optimizers and inverters, in the United States; and (vi) certain revenue from the sale of power optimizers and inverters may have been based on SolarEdge’s illegal activities, including Ampt’s misappropriation of patented designs.

Investors who have purchased or otherwise acquired SolarEdge stock should contact the company before January 3, 2023 Lead Plaintiff’s Application Deadline. A lead plaintiff is a representative party acting on behalf of other group members in conducting the litigation. If you would like to discuss your rights or interests related to this class action, please contact Thomas J. McKenna, Esq. or…