SolarEdge Technologies Inc. agreed to a $55 million settlement to resolve a securities class-action lawsuit. The case was filed in the U.S. District Court for the Southern District of New York.
The lawsuit alleged SolarEdge made misleading statements about high inventory levels in 2023. Plaintiffs also claimed the company failed to disclose weakening product demand across Europe.
The settlement applies to investors who bought common stock between February 13, 2023, and October 19, 2023. SolarEdge denies all allegations of wrongdoing but settled to avoid litigation costs.
The agreement received preliminary court approval. A final hearing for the settlement is scheduled for August 24, 2026.