NEW ORLEANS, Nov. 22, 2022 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until January 3, 2023 to file lead plaintiff applications in a securities class action lawsuit against Enviva Inc. (NYSE: EVA), if they purchased the Company’s securities between February 21, 2019 and October 11, 2022, inclusive (the “Class Period”). This action is pending in the United States District Court for the District of Maryland.
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Enviva investors should visit us at https://claimsfiler.com/cases/nyse-eva/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Enviva and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On October 12, 2022, pre-market, Blue Orca Capital reported a range of allegations against the Company including that “new discovered data suggests . . . the company is flagrantly greenwashing its wood procurement”; “Enviva is a dangerously levered serial capital raiser whose deteriorating cash conversion and unprofitability will drain it of cash next year”; and, that it is “a product of deranged European climate subsidies which incentivize the destruction of American forests so that European power companies can check a bureaucratic box.”
On this news, shares of Enviva stock fell approximately 13.13% to a closing price of $51.23 per share.
The case is Fagen v. Enviva, et al., 22-cv-02844.
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