SUEWALLST: ENPH CEO AND CFO FACE PERSONAL LIABILITY IN SECURITIES ACTION

Mar 05 2026 19:25 GMT

Important Information Regarding Section 20(a) Individual Liability Claims

ENPH INVESTOR ALERT

NEW YORK , March 5, 2026 /PRNewswire/ -- SueWallSt alerts investors in Enphase Energy, Inc. (NASDAQ: ENPH) that two senior executives are named as individual defendants in a securities class action filed in the United States District Court for the Northern District of California. Class Period: April 22, 2025 through October 28, 2025. Find out if you qualify to recover losses or contact Joseph E. Levi, Esq. at jlevi@SueWallSt.com | (888) SueWallSt.

Enphase shares fell $5.56 per share, or 15.15%, after the Company disclosed disappointing Q4 2025 revenue guidance and the need to destock elevated channel inventory heading into 2026.

The Named Individual Defendants

The complaint names Badrinarayanan Kothandaraman, President and Chief Executive Officer, and Mandy Yang, Executive Vice President and Chief Financial Officer. Both served in their respective roles throughout the Class Period and allegedly possessed the power and authority to control the contents of Enphase's SEC filings, press releases, and earnings call statements.

Section 20(a) Control Person Framework

Section 20(a) of the Securities Exchange Act of 1934 imposes liability on individuals who controlled entities that violated federal securities laws. The complaint asserts that both Kothandaraman and Yang:

- Were provided with copies of Enphase's SEC filings and press releases prior to or shortly after their issuance

- Had the ability and opportunity to prevent issuance of allegedly misleading statements or to cause them to be corrected

- Had access to material non-public information about channel inventory levels and the Company's true ability to mitigate 25D Credit termination effects

- Knew that adverse facts had not been disclosed to the investing public while positive representations were being made

Sarbanes-Oxley Certification Obligations

As CEO and CFO respectively, Kothandaraman and Yang signed certifications under Sections 302 and 906 of the Sarbanes-Oxley Act attesting to the accuracy of Enphase's quarterly reports on Form 10-Q filed during the Class Period. These certifications covered the quarters ended March 31, 2025, June 30, 2025, and September 30, 2025, each of which the lawsuit contends contained materially false or misleading statements about Enphase's operational prospects.

"Corporate officers have a duty to ensure their companies' public statements are accurate and complete. When executives personally certify financial disclosures under Sarbanes-Oxley, they accept responsibility for the information those filings convey to the investing public." -- Joseph E. Levi, Esq.

Submit your information to join the recovery or call (212) 363-7500.

To be considered for lead plaintiff, investors must file by April 20, 2026.

Levi & Korsinsky, LLP — Top 50 securities litigation firm (ISS, seven consecutive years). Over 70 professionals. Hundreds of millions recovered.

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

33 Whitehall Street, 27th Floor

New York, NY 10004

jlevi@SueWallSt.com

Tel: (888) SueWallSt

Fax: (212) 363-7171

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