The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Enviva Inc. (NYSE: EVA) who purchased shares between February 21, 2019 and October 11, 2022. The action, which was filed in the United States District Court for the District of Maryland, alleges that the Company violated federal securities laws.
In particular, the Enviva lawsuit alleges that (i) Enviva had misrepresented the environmental sustainability of its wood pellet production and procurement; (ii) Enviva had similarly overstated the true measure of cash flow generated by the Company’s platform; (iii) accordingly, Enviva had misrepresented its business model and the Company’s ability to achieve the level of growth that defendants had represented to investors; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until January 3, 2023 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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