Enviva Inc. Securities Class Litigation
Securities class action litigation has been filed on behalf of investors who purchased or otherwise acquired common stock shares of Enviva Inc. (“Enviva” or the “Company”) (NYSE: EVA) from February 21, 2019 through October 11, 2022, inclusive (the “Class Period”).
If you purchased or otherwise acquired Enviva securities during the Class Period, you may move the Court for appointment as lead plaintiff by no later than January 3, 2023. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the actions will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action.
Enviva investors who wish to learn more about the litigation and how to seek appointment as lead plaintiff complete the form below, text or email email@example.com, or call Sharon M. Lee of Lieff Cabraser at 1-800-541-7358.
Background on the Enviva Securities Class Litigation
Enviva is a Bethesda, Maryland, based company that produces wood pellets for use as a coal substitute in power generation. Enviva characterizes itself as a “growth-oriented” company that has strong environmental, social, and governance (“ESG”) credentials.
The securities class action alleges defendants made materially false and misleading statements and/or failed to disclose that: (a) Enviva misrepresented the environmental sustainability of its wood pellet procurement and production process; (b) the Company overstated its cash flows; and (c) Enviva misrepresented its ability to grow.
On October 12, 2022, investment firm Blue Orca Capital published a report claiming that new data showed that Enviva was greenwashing its wood procurement process. The report also claimed that Enviva was “dangerously levered” and whose poor cash flow generation would leave the Company with negative cash flows by next year. On this news, the price of Enviva shares fell $7.74, or 13.13%, from a closing price of $58.97 per share on October 11, 2022, to close at $51.23 per share on October 12, 2022, on elevated trading volume.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco, New York, Nashville, and Munich, is an internationally-recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. Recognized as a “Plaintiffs’ Powerhouse” by Law360, Lieff Cabraser has litigated some of the most important civil cases in the United States, and has assisted clients in recovering over $127 billion in verdicts and settlements. Law360 has selected Lieff Cabraser as one of the Top 50 law firms nationwide for litigation, highlighting our firm’s “laser focus” and noting that our firm routinely finds itself “facing off against some of the largest and strongest defense law firms in the world.” In 2021, The American Lawyer named our firm its “Boutique Litigation Firm of the Year.” Benchmark Litigation has named Lieff Cabraser one of the “Top 10 Plaintiffs’ Firms in America,” and listed us as its “2020 California Plaintiff Firm of the Year.” Lieff Cabraser is committed to ensuring access to justice for all.