LOS ANGELES–(BUSINESS WIRE)–The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Enviva Inc. (“Enviva” or “the Company”) (NYSE: EVA) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Enviva is the subject of a report released by Blue Orca Capital on October 12, 2022. The report alleges that the Company falls far short of its ESG ideals by relying on carbon loopholes that “subsidizes European power companies to replace coal with wood pellets derived from deforestation in the United States.” Blue Orca alleges that the Company produces its wood pellets from clear-cut forests, a practice condemned by climate activists and ESG investors. The report adds that the Company overstated the sustainability of its hardwood harvests and artificially inflated its profit margin. Based on the report, shares of Enviva fell by almost 16% in intraday trading on the same day.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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