SAN DIEGO, Nov. 7, 2022 (GLOBE NEWSWIRE) —
The class: Robbins LLP Reminds investors that a shareholder is seeking a class action on behalf of all persons and entities who purchased or otherwise acquired Enviva, Inc. (NASDAQ: EVA) securities between February 21, 2019 and October 11, 2022 for violations of the Securities Exchange Act of 1934. Enviva, formerly known as Enviva Partners, LP, develops, builds, acquires, owns and operates wholly contracted wood pellet manufacturing facilities.
What now: Shareholders in a similar situation may be eligible to participate in the class action lawsuit against Enviva. Shareholders who wish to be named lead plaintiff in the class action must file by January 3, 2023. A lead plaintiff is a representative party acting on behalf of other members of the class in conducting the litigation. You do not have to be present at the case to be eligible for a recovery. Click for more information here.
All representations are on a contingency fee basis. Shareholders pay no fees or costs.
What is it about in this case: Enviva, Inc. (EVA) has misled investors regarding its business prospects
According to the complaint, Enviva’s products are used as a substitute for coal in power generation and combined heat and power plants. Significantly, Enviva touts itself as a “growth-oriented” environmental, social and governance (“ESG”) company with a “platform for generating stable and growing cash flows.”
However, during the class action, the defendants failed to disclose the following: (i) Enviva had misrepresented the environmental sustainability of its wood pellet production and sourcing; (ii) Enviva had similarly overstated the true measure of cash flow generated by the company’s platform; and (iii) accordingly, Enviva misrepresented its business model and the Company’s ability to achieve the levels of growth that Defendants presented to investors.
On October 12, 2022, Blue Orca Capital released a report on Enviva claiming that “new…
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