Lawsuit filed for Investors who lost money with shares of Solaris Energy Infrastructure, Inc. (NYSE: SEI)

An investor, who purchased shares of Solaris Energy Infrastructure, Inc. (NYSE: SEI), filed a lawsuit over alleged violations of Federal Securities Laws by Solaris Energy Infrastructure, Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Solaris Energy Infrastructure, Inc. (NYSE: SEI) have certain options and for certain investors are short and strict deadlines running. Deadline: May 27, 2025. NYSE: SEI investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Houston, TX based Solaris Energy Infrastructure, Inc. provides mobile and scalable equipment-based solutions for use in distributed power generation and management of raw materials used in the completion of oil and natural gas wells in the United States.

On July 9, 2024, Solaris Energy Infrastructure, Inc. announced that it has entered into an agreement to acquire Mobile Energy Rentals LLC ("MER"). Solaris completed the MER acquisition on September 11, 2024.

On March 17, 2025, Morpheus Research published an investigative report alleging, among other things, that MER had been "a ~$2.5 million revenue equipment leasing business based out of a condo with zero employees, no turbines, and no track record in the mobile turbine rental industry." The report revealed that one of MER's co-owners, John Tuma ("Tuma") was in fact, a "convicted felon" for "environmental crimes and lying to the court 'on multiple occasions under oath'" and was involved in a "$800 million gas turbine scandal... that included allegations of bid rigging [and] corruption." Despite being "nothing more than a small, local switchgear rental business at the end of 2023" MER was "seemingly transformed throughout the first half of 2024 - just months before it was acquired by Solaris" immediately after Tuma joined the Company. The report then described how, in that period, MER had acquired substantially all of its turbines, primarily financed through the $71 million in debt that Solaris would later pay in the Acquisition. Contrary to Solaris's claims "that MER had a 'contracted and diversified earnings stream[,]'" in fact, "that 96% of its Power Solutions revenue was derived from a single customer[.]"

Shares of Solaris Energy Infrastructure, Inc. (NYSE: SEI) declined from $39.03 per share on February 21, 2025, to as low as $14.72 per share on April 04, 2025.

The plaintiff claims that between July 9, 2024 and March 17, 2025, the defendants failed to disclose to investors that MER had little to no corporate history in the mobile turbine leasing space, that MER did not have a diversified earnings stream, that MER's co-owner was a convicted felon associated with multiple allegations of turbine-related fraud, that as a result, Solaris overstated the commercial prospects posed by the Acquisition, that Solaris inflated profitability metrics by failing to properly depreciate its turbines, 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 Solaris Energy Infrastructure, Inc. (NYSE: SEI) 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.

This release was published on openPR.