Enviva Inc. (NYSE:EVA)
NEW YORK, NY – November 14, 2022 – Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the District of Maryland on behalf of investors who acquired Enviva Inc. (“Enviva”or the “Company”) (NYSE:EVA) securities between February 21, 2019 and October 11, 2022, inclusive (the “Class Period”).
All investors who purchased the shares and incurred losses are advised to contact the firm immediately at firstname.lastname@example.org or (800) 575-0735 or (212) 545-4774.
If you have incurred losses you may, no later than January 3, 2023, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights.
On October 12, 2022, before market hours, Blue Orca published a report which alleged, among other things, that “new discovered data suggests . . . the company is flagrantly greenwashing its wood procurement” and characterized Enviva’s claim to be a “pure play ESG Company with a healthy, self-funded dividend and cash flows to provide a platform for future growth” as “nonsense on all counts.” The report further alleged that “Enviva is a dangerously levered serial capital raiser whose deteriorating cash conversion and unprofitability will drain it of cash next year” and 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, Enviva’s stock fell $7.74, or 13.1%, to close at $51.23 per share on October 12, 2022.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at email@example.com
Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Tel: (800) 575-0735 or (212) 545-4774
Certification and Authorization Pursuant to Federal Securities Laws
Date of signing: 11/30/2022