Enphase Investor Seeks Docs Over Alleged Accounting Fraud
Law360 (September 16, 2020, 4:05 PM EDT) -- Global solar power technology company Enphase Energy Inc. was hit with a lawsuit Tuesday in Delaware Chancery Court from an investor seeking company records about possible accounting fraud that may have fabricated at least $205 million of the company's revenues.
Stockholder Stanley Olochwoszcz wants the records to determine if he will pursue potential breach of fiduciary claims against company officers in connection with any wrongdoing related to the alleged "cooking" of the company's books. Olochwoszcz says he "has a credible basis to investigate potential management or board misconduct based on recent reports from forensic investigators, who have uncovered that 'Enphase Energy's...
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