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NEW YORK, Nov. 04, 2022 (GLOBE NEWSWIRE) — Bernstein Liebhard LLP announces that on behalf of investors who have purchased or acquired shares in SolarEdge Technologies, Inc. (“SolarEdge” or the “Company”), a securities class action lawsuit was filed”) SEDG in between August 6, 2020 and October 19, 2022, inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the Southern District of New York alleging violations of the Securities Exchange Act of 1934.

SolarEdge provides solar energy optimization and photovoltaic (“PV”) monitoring solutions for solar power systems, providing optimizers, inverters, monitors, tools and accessories for energy harvesting, conversion and efficiency, serving customers worldwide. Two key components of SolarEdge solar energy systems are power optimizers and inverters. A power optimizer can be described as a direct current-to-direct current (“DC-to-DC”) converter technology designed to maximize the energy harvest of solar PV systems. Also known as the “brain” of a solar power system, an inverter converts the direct current (or “raw power”) from the PV panels into alternating current (“AC”) (or “usable” power) that runs in a user’s home.

SolarEdge states that inverters are “critical” because while inverters represent less than 10% of the system cost, these components manage 100% of the system production and are “critical to the long-term financial performance of a PV system as they maximize energy production.” and reduce lifetime costs.” Since SolarEdge began commercial delivery of solar power systems in 2010, over 3.7 million inverters and 89 million power optimizers have been shipped worldwide.

The plaintiff alleges that the defendants…