PR Newswire
Lead Plaintiff Deadline is May 13, 2025
Wolf Haldenstein Adler Freeman & Herz LLP announces the filing of a class action lawsuit against enCore Energy Corp. (NASDAQ: EU). This lawsuit, filed in the United States District Court for the Southern District of Texas, represents all individuals and entities who bought or acquired enCore securities between March 28, 2024, and March 2, 2025. The suit alleges that enCore made misleading statements and failed to disclose crucial information regarding its financial health and operationa lcapabilitities.
PLEASE CLICK THIS LINK TO JOIN THE CASE AND PROVIDE CONTACT INFORMATION
NEW YORK
, March 24, 2025 /PRNewswire/ — This significant legal action follows enCore’s announcement of a substantial net loss of $61.3 million for fiscal year 2024 – more than double the previous year’s loss. The company attributed this to an inability to capitalize on certain exploratory and development costs under U.S. GAAP accounting rules. Furthermore, enCore revealed a “material weakness” in its internal financial controls. This news caused a dramatic drop in enCore’s stock price, falling $1.17 per share, or 46.4%, to close at $1.35 per share on March 3, 2025.
” Wolf Haldenstein will bring a class action lawsuit against enCore Energy Corp. on behalf of those who suffered significant financial losses due to the company’s alleged misrepresentations,” said a Wolf Haldenstein spokesperson. “The lawsuit alleges that enCore’s misleading statements and omissions regarding its financial health and internal controls, including a material weakness identified in 2024, directly contributed to a dramatic 46.4% drop in share price, from a loss of $1.17 per share, and a substantial net loss of $61.3 million in 2024.”
If you purchased enCore securities during the specified period and believe you have suffered financial losses due to the alleged misrepresentations, email [email protected] immediately to learn more about your rights and potential involvement in this class action.
The complaint alleges several key issues:
- Ineffective Internal Controls: The lawsuit claims enCore lacked effective internal controls over financial reporting.
- Inaccurate Financial Reporting: The suit alleges that enCore’s inability to capitalize certain costs under GAAP was not adequately disclosed, leading to a misrepresentation of its financial position.
- Substantially Increased Net Losses: The complaint states that the undisclosed issues resulted in significantly higher net losses than were publicly reported.
The class action lawsuit seeks to recover losses for those who invested in enCore during the specified period, based on the alleged misrepresentations and omissions. The legal team at Wolf Haldenstein is dedicated to pursuing justice for affected investors. For more information or to determine your eligibility, please visit our website or contact the firm directly.at [email protected] or (800) 575-0735.
Media Contact: Contact: Wolf Haldenstein Adler Freeman & Herz LLPGregory Stone, Director of Case and Financial AnalysisEmail: [email protected]: (800) 575-0735 or (212) 545-4774This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Wolf Haldenstein has 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, Nashville 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 the firm.
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SOURCE Wolf Haldenstein Adler Freeman & Herz LLP
