TEL: (212)616-4899

Ormat Technologies, Inc. (ORA) Loss Submission Form

The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Ormat Technologies, Inc. (NYSE: ORA) who purchased shares between August 8, 2017 and May 15, 2018. The action, which was filed in the United States District Court for the District of Nevada, alleges that the Company violated federal securities laws.

In particular, the ORA lawsuit alleges that (1) there were errors in the income tax provision primarily relating to Ormat’s valuation allowance based on its ability to utilize foreign tax credits in the U.S. prior to their expiration; (2) Ormat netted certain deferred income tax assets and deferred income tax liabilities across different tax jurisdictions that are not permitted to be netted pursuant to United States generally accepted accounting principles; (3) Ormat’s internal controls over financial reporting were ineffective; (4) Ormat would need to restate its second, third and fourth quarter 2017 financial statements and its full-year 2017 financial statements; and (5) as a result, defendants’ statements about Ormat’s business, operations and prospects were materially false and misleading and/or lacked a reasonable bases at all relevant times.

Shareholders have until August 8, 2018 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.

Keep Me Informed

There is no cost or obligation. This submission does not create an attorney-client relationship. If we believe that you might be an appropriate lead plaintiff, we will contact you to discuss whether to establish an attorney-client relationship.

This letter confirms that you have retained The Klein Law Firm to represent you as a named plaintiff in a shareholder action involving Ormat Technologies, Inc.

We agree to advance all expenses in the litigation, which means that you are not liable to pay any of the expenses of the lawsuit, whether attorneys' fees or costs. Regardless of the result, we will never ask you to directly pay for any attorneys' fees or costs. Should we obtain a favorable result, we may ask the court to award us compensation to be paid by the defendants or as a portion of any class benefit, but, again, we will never ask you to directly pay any of the costs of this litigation.

As the client you are entitled to direct the litigation in any way you deem proper, and may at any time order us to dismiss the case or opt-out. Should you choose to do so, we will never ask you to reimburse us directly for any legal fees or expenses. During the course of this litigation, we may employ and/or work with other law firms to prosecute your case.

We look forward to representing you and other Ormat Technologies, Inc. shareholders.

Sincerely,

The Klein Law Firm

Joseph Klein

AGREED: Sign Name Clear
Privacy Policy