Trending...
- Dennis Mukeera and Bridget Namubiru Release New Urban Fantasy Novel: Borrowed Destiny
- Franklin Resources, Inc. (BEN) Investigation: Bronstein, Gewirtz and Grossman, LLC Encourages Shareholders to Seek Compensation for Alleged Wrongdoings
- The Dancing Caravan comes to ArtsWestchester's Gallery
NEW YORK, Sept. 16, 2023 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Enviva Inc. ("Enviva" or the "Company") (NYSE: EVA) and reminds investors of the November 13, 2023 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you suffered losses exceeding $100,000 investing in Enviva stock or options between November 3, 2022 and May 3, 2023 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/EVA
There is no cost or obligation to you.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
More on Nyenta.com
The 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. When the true details entered the market, the lawsuit claims that investors suffered damages.
The truth was revealed on May 3, 2023, when, after the market closed, Enviva issued a press release announcing results for the first quarter of 2023 that came in below the Street's revenue and EPS expectations. The complaint alleges that in speaking the truth Enviva acknowledged that "specific" previously undisclosed "issues" impacting Enviva's plans to improve productivity and reduce costs caused Enviva's operating results to fall behind expectations. As a result, Enviva eliminated its $0.905 per share quarterly dividend to preserve liquidity and dramatically lowered its 2023 net loss and adjusted EBITDA guidance.
More on Nyenta.com
In response to this news, on May 4, 2023, the price of Enviva's common stock fell $14.34 per share to $7.01 or a 67.2% drop on exceptionally heavy volume of 15.6 million shares, more than 28 times the average daily trading volume of Enviva's common stock.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Enviva's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
SOURCE Faruqi & Faruqi, LLP
If you suffered losses exceeding $100,000 investing in Enviva stock or options between November 3, 2022 and May 3, 2023 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/EVA
There is no cost or obligation to you.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
More on Nyenta.com
- CCHR Seeks Redress for Those Forcibly Held and Harmed in Behavioral Facilities
- BrickHouse Ceramic Art Center 2024 Annual Holiday Craft Show
- New Rochelle: Applications Now Available for Little Hoopers 2024 Basketball Clinic
- New Rochelle Parks and Recreation presents the 2024 Pickleball Tournament
- DocVilla Unveils AI and Automation in Cloud-Based EHR Software, Revolutionizing Healthcare Delivery
The 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. When the true details entered the market, the lawsuit claims that investors suffered damages.
The truth was revealed on May 3, 2023, when, after the market closed, Enviva issued a press release announcing results for the first quarter of 2023 that came in below the Street's revenue and EPS expectations. The complaint alleges that in speaking the truth Enviva acknowledged that "specific" previously undisclosed "issues" impacting Enviva's plans to improve productivity and reduce costs caused Enviva's operating results to fall behind expectations. As a result, Enviva eliminated its $0.905 per share quarterly dividend to preserve liquidity and dramatically lowered its 2023 net loss and adjusted EBITDA guidance.
More on Nyenta.com
- INVESTIGATION: The M&A Class Action Firm Investigates the Merger and Imminent Vote on September 20, 2024, of Squarespace, Inc. - SQSP
- DocVilla Introduces Best All-in-One Customizable Cloud-Based EHR Practice Management Software for Multi-Specialty and Small Practices
- 9/11 Remembrance Ceremonies in New Rochelle
- Life with Lucia and Glynn: A Global Duo Spreading Joy Through Matching Shirts and Adventures
- Luxury Real Estate Agent James Edmunds lists luxury beach home in the heart of Deerfield Beach
In response to this news, on May 4, 2023, the price of Enviva's common stock fell $14.34 per share to $7.01 or a 67.2% drop on exceptionally heavy volume of 15.6 million shares, more than 28 times the average daily trading volume of Enviva's common stock.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Enviva's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
SOURCE Faruqi & Faruqi, LLP
Filed Under: Business
0 Comments
Latest on Nyenta.com
- Daniel Harel Opposes New School Policy on Lice Screenings, Warns of Risk to Students' Well-being
- HBCU New York Classic Makes History with First-Ever Divine Nine Stroll Line
- Pathways to Peace to launch proactive, case-management outreach model in Rochester City Schools
- Wordeee Publishes Kamau Ptah's, Crossing the Threshold; Embracing the Call
- The Demex Group Raises $10.25 Million to Address Growing Demand for its Breakthrough Weather- and Climate-related Reinsurance Solution
- Creative Biolabs presents codes ruling antibody discovery
- Entertainer Russell Moss Brings Two Nights Of Cool To New York's Triad Theater
- Don't Let The Pigeon Drive The Bus! The Musical! Flies Into To Tribeca PAC
- TalentWell Launches Next Generation of AI-powered Talent Sourcing with Automated, Personalized Videos
- Armata Pharmaceuticals to Participate in the H.C. Wainwright 26th Annual Global Investment Conference
- EIU strengthens leadership team and names Constance Hunter as chief economist
- Complete DataBase Package Passports, ID card, SSN card, DL, Birth Certificates
- SHAREHOLDER ALERT: The M&A Class Action Firm Investigates the Merger of Titan Pharmaceuticals, Inc. - TTNP
- Cboe Global Markets to Present at the Barclays Global Financial Services Conference on September 9
- L-Tron announces OSCR360 Tablet Software release v.2024.94.0
- OSCR360 featured at NYS Police FIU exhibit at the NY State Fair for Second Year
- Tutanota LLC Amends Tender Offer for up to 1,000,000 Shares of Intel Corporation
- Dr. Seth Chambers Shares Journey to Success in Implant Dentistry on Unofficial Podcast's Summer Series: "Mind, Body, & Arches"
- Datavalet is a Great Place to Work for the Second Year in a Row
- Health is for EveryBODY™ Campaign Partners with Chip In™