Grabar Law Office Investigates Claims on Behalf of Shareholders of Enservco Corporation (ENSV)

Philadelphia, Pennsylvania--(Newsfile Corp. - November 30, 2022) - On March 28, 2022, Enservco (NYSE American: ENSV) revealed that it needed to restate the interim financials from every quarterly report it filed in 2021 to correct two accounting errors arising out of (i) its failure to account for the warrant issued to Cross River Partners in the February 2021 Debt for Equity Exchange; and (ii) its recognition of income for employee retention credits ("ERCs") available under the Coronavirus Aid, Relief, and Security Act ("CARES Act") that it was not entitled to receive.

Only one week after filing its restatement, on April 18, 2022, Enservco disclosed that it needed to restate the same financials yet again to correct another accounting error. It is alleged that the two restatements collectively increased the net losses reported by Enservco in that the company initially understated its net losses by up to 80%.

If you are a current Enservco shareholder who has held shares since on or before March 23, 2021, you may be able seek corporate reforms, the return of funds expended defending litigation back to company coffers, and a court approved incentive award if appropriate.

If you would like to learn more about this matter at no cost to you, visit https://grabarlaw.com/the-latest/enservco-shareholder-investigation/ contact us at jgrabar@grabarlaw.com, or call 267-507-6085.

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These materials have been prepared by the Grabar Law Office for informational purposes only and does not constitute legal advice. This information is not intended to create, and receipt of it does not constitute, an attorney-client relationship. Prior results referred to in these materials do not guarantee or suggest a similar result in other matters.

Contact:
Joshua H. Grabar, Esq.
Grabar Law Office
One Liberty Place
1650 Market Street, Suite 3600
Philadelphia, PA 19103
Tel: 267-507-6085
Email: jgrabar@grabarlaw.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/146299