RESPECTED INVESTOR ADVISOR ROSEN Encourages Enviva Inc. Investors to Learn About Securities Class Action Investigation
NEW YORK, October 14, 2022 /PRNewswire/ —
WHY: New York, NY, October 14, 2022. Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of Enviva Inc. (NYSE: EVA) shareholders arising from allegations that Enviva could have provided misleading business information to the investing public.
SO WHAT: If you have purchased Enviva Securities, you may be entitled to compensation without payment of out-of-pocket expenses or costs through a contingency fee arrangement. The law firm Rosen is preparing a class action lawsuit seeking to recover the losses of the investors.
WHAT TO DO NEXT: To join the potential class action, go to https://rosenlegal.com/submit-form/?case_id=9162 or call Phillip Kim, Esq. toll free at 866-767-3653 or by email [email protected] Where [email protected] for more information on the class action.
WHAT DOES IT TALK ABOUT: On October 12, 2022, before markets opened, market researcher Blue Orca Capital released a report alleging issues with Enviva. In relevant part, the Blue Orca report alleged that, contrary to Enviva’s public representations, Enviva purchased timber from clear-cut forests. According to the report, this would discourage a large number of Enviva customers from purchasing Enviva wood pellets. Wood pellets produced from clear-cut forests would not qualify for an important “renewable energy” classification.
Additionally, the Blue Orca report alleged that Enviva was engaging in an equipment leasing program to inflate its EBITDA, in which Enviva would purchase and capitalize equipment, then lease the equipment to loggers who would sell pellets. of wood to Enviva at a reduced price. This allowed Enviva to reduce the cost of materials, allowing Enviva to report artificially inflated EBITDA figures.
At this news, Enviva’s share price fell by $7.74 per share, or approximately 13%, to close at $51.23 per share on October 12, 2022.
WHY THE ROSEN LAW: We encourage investors to select qualified attorneys with proven track records in leadership roles. Often, companies issuing reviews do not have comparable experience, resources, or significant peer recognition. Many of these companies do not bring securities class action lawsuits. Be wise in choosing lawyers. Rosen Law Firm represents investors worldwide, focusing its practice on securities class action and shareholder derivative litigation. Rosen Law Firm has reached the largest securities class action settlement against a Chinese company. Rosen Law Firm was ranked #1 by ISS Securities Class Action Services for the number of securities class action settlements in 2017. The firm has ranked in the top 4 every year since 2013 and has recovered hundreds of million dollars for investors. In 2019 alone, the company obtained more than $438 million for investors. In 2020, founding partner Laurence Rosen has been named by law360 as a Titan of the Plaintiffs Bar. Many of the firm’s lawyers have been recognized by Lawdragon and Super Lawyers.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, Pennsylvania
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
SOURCE Rosen Law Firm, Pennsylvania