According to the Complaint, the Company made false and misleading statements to the market. Enphase's once strong sales in Europe fell sharply in the third quarter of 2023 due to what it claimed was a "softening of demand." The Company was not willing to adjust its pricing strategy despite the market forces it faced in Europe. The Company's failure to act on pricing in Europe was criticized by analysts as increasing "competitive risks." Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Enphase, investors suffered damages.