Press release
Lawsuit filed for Investors who lost money with shares of enCore Energy Corp. (NASDAQ: EU)
A lawsuit was filed on behalf of investors in enCore Energy Corp. (NASDAQ: EU) shares over alleged securities laws violations.
Investors who purchased shares of enCore Energy Corp. (NASDAQ: EU) have certain options and for certain investors are short and strict deadlines running. Deadline: May 13, 2025. NASDAQ: EU investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
Corpus Christi, TX based enCore Energy Corp. engages in the acquisition, exploration, development, and extraction of uranium resource properties in the United States.
On March 3, 2025, enCore announced its fiscal 2024 financial results. enCore Energy Corp. (NASDAQ: EU) reported that its annual Total Revenue rose from $22.14 million in 2023 to $58.33 million in 2024, and that its Net Loss increased from $25.61 million in 2023 to $61.39 million in 2024. The Company explained "the inability to capitalize certain exploratory and development costs under U.S. GAAP which would have been capitalized under IFRS [International Financial Reporting Standards]" impacted the Company's results. Further, the Company revealed that it had "identified in 2024" a "material weakness" in the Company's internal controls over financial reporting, "primarily due to an ineffective control environment that resulted in ineffective risk assessment, information and communications and monitoring activities."
Also on March 2, 2025, the Company also revealed that it had appointed a new acting Chief Executive Officer "effective immediately" and that Paul Goranson "is no longer serving as enCore's Chief Executive Officer or as a member of the board of directors."
Shares of enCore Energy Corp. (NASDAQ: EU) declined from $4.96 per share on May 31, 2024, to as low as $1.26 per share on March 03, 2025.
The plaintiff claims that between March 28, 2024 and March 2, 2025, the Defendants failed to disclose to investors, that enCore lacked effective internal controls over financial reporting, that enCore could not capitalize certain exploratory and development costs under GAAP, that, as a result, its net losses had substantially increased, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Those who purchased shares of enCore Energy Corp. (NASDAQ: EU) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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