Enviva, Inc. Sued for Securities Law Violations; Investors Should Contact Block & Leviton for More Information

Boston, Massachusetts--(Newsfile Corp. - December 1, 2022) - Block & Leviton announces that a class action lawsuit has been filed against Enviva, Inc. (NYSE: EVA) for securities law violations. Investors who purchased shares and have lost money are encouraged to contact the firm to learn more about how they might recover those losses. For more details, visit https://www.blockleviton.com/cases/eva.

What is this all about?

On October 12, 2022, Blue Orca Capital issued a short report alleging that purported ESG wood pellet producer, Enviva, Inc. "is flagrantly greenwashing its wood procurement."

According to the report, Enviva claims to be an ESG Company, when instead it is relying on a carbon accounting loophole that "subsidizes European power companies to replace coal with wood pellets derived from deforestation in the United States." Using GPS data to geolocate Enviva's harvests, Blue Orca found satellite imagery of clear-cut forests, a controversial practice involving the removal of full swaths of forest. Clear-cutting is a widely condemned practice by both ESG investors and climate change advocates.

Additional allegations in the short report include the company overstating the sustainability of harvests, decreasing hardwood forest inventory around the Company's facilities, inflated profit margins from providing equipment to loggers in exchange for reduced prices, and overpayment for related party transactions.

Shares of Enviva, Inc. stock dropped more than 13% in intraday trading on October 12, 2022.

Who is eligible?

Anyone who purchased Enviva, Inc. stock between February 21, 2019 and October 11, 2022, whether or not they have sold their investment. Investors should contact Block & Leviton to learn more.

What should you do next?

The deadline to seek appointment as lead plaintiff is January 3, 2023. A class has not yet been certified, and until a certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

If you've lost money on your investment, you should contact Block & Leviton to learn more via our case website, by email at cases@blockleviton.com, or by phone at (617) 398-5600.

Why should you contact Block & Leviton?

Many law firms have issued releases about this matter; most of those firms do not actually litigate securities class actions. Block & Leviton is a law firm that actually litigates cases. We are dedicated to obtaining significant recoveries on behalf of defrauded investors through active litigation in the federal courts across the country. Many of the nation's top institutional investors hire us to represent their interests. You can learn more about us at our website, www.blockleviton.com, or call (617) 398-5600 or email cases@blockleviton.com with any questions.

This notice may constitute attorney advertising.

CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
Email: cases@blockleviton.com

SOURCE: Block & Leviton LLP
www.blockleviton.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/146472