The Law Offices of Frank R. Cruz Announces Investigation of Enservco Corporation (ENSV) on Behalf of Investors

By: The Law Offices of Frank R. Cruz via Business Wire

May 23, 2022 at 14:20 PM EDT

Shareholders with $200,000 losses or more are encouraged to contact the firm.

The Law Offices of Frank R. Cruz announces an investigation of Enservco Corporation (“Enservco” or the “Company”) (NYSE: ENSV) on behalf of investors concerning the Company’s possible violations of federal securities laws.

If you are a shareholder who suffered a loss, click here to participate.

On March 28, 2022, Enservco disclosed that it had “concluded that the Company’s previously issued condensed consolidated financial statements as of and for the quarters ended March 31, 2021, June 30, 2021 and September 30, 2021 should no longer be relied upon largely because of the Company’s accounting for a conversion of debt to equity with a related party.”

On this news, Enservco’s stock fell $0.45, or 12.3%, to close at $3.21 per share on March 28, 2022, thereby injuring investors.

Then, on March 31, 2022, the Company disclosed that it could not timely file its 2021 annual financial report because it was “in the process of restating [its] financial statements.”

On this news. Enservco’s stock fell $0.21, or 7.8%, to close at $2.49 per share on April 1, 2022, thereby injuring investors further.

Then, on April 4, 2022, Enservco announced that its Chief Financial Officer would be departing and would no longer be an executive officer or employee.

On this news, Enservco’s stock fell $0.19, or 7.5%, to close at $2.35 per share on April 5, 2022.

Then, on April 18, 2022, the Company disclosed that it would not “be filing its Form 10-K for the fiscal year ended December 31, 2021 within the 15 day extension period provided by the Company’s 12b-25 filing” because it “intends to [again] amend its Quarterly Reports on Form 10-Q for the Relevant Periods to reflect restatements of its condensed consolidated financial statements for the Relevant Periods.”

On this news, Enservco’s stock fell $0.38, or 10.5%, to close at $3.25 per share on April 19, 2022, thereby injuring investors further.

If you purchased Enservco securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220523005929/en/

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The Law Offices of Frank R. Cruz, Los Angeles

Frank R. Cruz, 310-914-5007

fcruz@frankcruzlaw.com

www.frankcruzlaw.com

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The Law Offices of Frank R. Cruz Announces Investigation of Enservco Corporation (ENSV) on Behalf of Investors

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