NEW YORK, Nov. 08, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, reminds investors that a class action lawsuit has been filed against Enviva Inc. (“Enviva” or the “Company”) (NYSE: EVA) in the United States District Court for the District of Maryland on behalf of all persons and entities who purchased or otherwise acquired Enviva common stock on a U.S. open market between November 3, 2022 and May 3, 2023, both dates inclusive (the “Class Period”). Investors have until November 13, 2023 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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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%.
If you purchased or otherwise acquired Enviva shares and suffered a loss, are a long-term stockholder, have information, 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 Brandon Walker or Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
