Enphase Energy, Inc.
|Company Name||Enphase Energy, Inc.|
On June 17, 2020, Prescience Point Capital Management issued a report alleging, among other things, that "at least 39%, or $205.3 million, of [Enphase's] reported U.S. revenue is fabricated." The report also claimed, citing former employees, that "a large portion of [the Company's] astronomical growth over the past two years is attributable to accounting gimmicks that artificially inflate revenue and profits."
On this news, the Company's share price fell as much as $14, or nearly 27%, during intraday trading on June 17, 2020.
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