A lawsuit was filed on behalf of investors in Enviva Inc. (NYSE:EVA) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 10/02/2023 -- An investor, who purchased shares of Enviva Inc. (NYSE: EVA), filed a lawsuit over alleged violations of Federal Securities Laws by Enviva Inc. in connection with certain allegedly false and misleading statements.
Investors who purchased a significant amount of shares of Enviva Inc. (NYSE: EVA) between November 3, 2022 and May 3, 2023 have certain options and for certain investors are short and strict deadlines running. Deadline: November 13, 2023. NYSE: EVA investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
Bethesda, MD based Enviva Inc. produces, processes, and sells utility-grade wood pellets.
On May 3, 2023, Enviva lowered its Full Year 2023 guidance and suspended its dividend payments going forward. The Company predicted that its 2023 EBITDA would be significantly lower and its net loss would be higher, stating that "contract labor is too high, discipline around repairs and maintenance spend is insufficient, wood input costs need to come down further and stay there, and utilization rates at specific plants need to improve and stabilize at those improved levels."
Shares of Enviva Inc. (NYSE: EVA) declined from $48.68 per share on February 06, 2023 to $6.69 per share on May 04, 2023.
The plaintiff claims that between November 3, 2022 and May 3, 2023, the defendants 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.
Those who purchased shares of Enviva Inc. (NYSE: EVA) have certain options and should contact the Shareholders Foundation.
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