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Business Wire 18-Sep-2023 9:35 AM
Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Enviva Inc. (NYSE:EVA) common stock on a U.S. open market between November 3, 2022 and May 3, 2023, both dates inclusive (the "Class Period") have until November 13, 2023 to seek appointment as lead plaintiff of the Enviva class action lawsuit. Captioned Dhatt v. Enviva Inc., No. 23-cv-02474 (D. Md.), the Enviva class action lawsuit charges Enviva and certain of its top executive officers with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Enviva class action lawsuit, please provide your information here:
CASE ALLEGATIONS: The Enviva class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose material information about the financial condition of Enviva, including its earnings before interest, taxes, depreciation, and amortization and net loss forecasts, liquidity position, capital allocations, operation costs, productivity, and the impact of these metrics on Enviva's ability to continue paying dividends in 2023.
The Enviva class action lawsuit further alleges that on May 3, 2023, Enviva revised down its 2023 guidance, lowering its net loss projection from $18-$48 million to $136-$186 million, and suspending dividend payments for 2023. The Enviva class action lawsuit alleges that on this news, the price of Enviva common stock fell more than 67%.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Enviva common stock on a U.S. open market during the Class Period to seek appointment as lead plaintiff of the Enviva class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Enviva class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Enviva class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Enviva class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller is one of the world's leading complex class action firms representing plaintiffs in securities fraud cases. The Firm is ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report for recovering more than $1.75 billion for investors in 2022 – the third year in a row Robbins Geller tops the list. And in those three years alone, Robbins Geller recovered nearly $5.3 billion for investors, more than double the amount recovered by any other plaintiffs' firm. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:
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