Archived Investigations

Enviva Inc. (NYSE: EVA)

Company Name:Enviva Inc.
Stock Symbol:NYSE: EVA
Court:District of Maryland
Class Period Start:02/21/2019
Class Period End (inclusive):10/11/2022
Filing Deadline:The deadline has passed.
November 7, 2022

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.

Click here to read the first filed complaint.