SolarEdge, Investors Get Initial Nod for $55 Million Settlement

SolarEdge Technologies Inc.'s proposed $55 million settlement of investors’ securities fraud claims has received preliminary federal court approval.

The deal settling claims that the solar-panel parts company misrepresented equipment demand and inventory appears fair, reasonable, and adequate, Judge Gregory H. Woods said May 1 for the US District Court for the Southern District of New York.

• The investors alleged SolarEdge hyped the success of its European business, but then disclosed excess inventory and slowing growth there, causing stock tumbles—including a single-day share-price decline of 27% in October 2023
• Woods allowed some claims to proceed past a dismissal motion in late ...