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Stocks•6 April 2026•

1 min read

Snowflake and Enphase Energy Face Class Action Lawsuits Over Risk Disclosures

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Key Facts

1Levi & Korsinsky, LLP filed a securities class action against Snowflake Inc. (SNOW) covering the period from June 27, 2023, to February 28, 2024.

2The lawsuit alleges Snowflake failed to disclose known headwinds, relying instead on generic risk warnings.

3Enphase Energy (ENPH) is facing similar legal scrutiny regarding the adequacy of its risk warnings to investors.

Law firm Levi & Korsinsky, LLP has filed a securities class action lawsuit against Snowflake Inc. (SNOW) and initiated investigations into Enphase Energy (ENPH). The lawsuit against Snowflake covers the period between June 27, 2023, and February 28, 2024, alleging the company failed to disclose specific business headwinds. According to the filing, Snowflake relied on generic risk warnings rather than providing transparency regarding known material risks. Similarly, Enphase Energy is under legal scrutiny for the adequacy of its risk disclosures provided to investors. The legal actions claim that these omissions misled investors, resulting in financial losses when the undisclosed risks eventually materialized. While such lawsuits are common in the U.S. market, they introduce potential legal liabilities and negative sentiment for both companies.