Archived Investigations
Enviva Inc. (NYSE: EVA)
Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until January 3, 2023 to file lead plaintiff applications in a securities class action lawsuit against Enviva Inc. (NYSE: EVA).
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.