SolarEdge to Pay $55 Million to Settle Investor Demand Suit (1)

SolarEdge Technologies Inc. agreed to fork $55 million over to investors to resolve allegations the solar-panel parts company and former top executives misrepresented European demand and distributors’ inventory levels.

The investors asked the US District Court for the Southern District of New York to certify a settlement class of those who acquired SolarEdge stock from Feb. 13, 2023, through Oct. 19, 2023, while seeking preliminary approval of the deal Tuesday.

If approved, the agreement would resolve securities fraud claims that ex-CEO Zvi Lando and former Chief Financial Officer Ronen Faier were aware demand in Europe was weak when making rosy ...