NEW YORK, Oct. 31, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is investigating potential claims against Enviva, Inc. (NYSE: EVA), Tattooed Chef, Inc. (NASDAQ: TTCF), Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE: HASI), and Flagstar Bancorp, Inc. (NYSE: FBC). Our investigations concern whether these companies violated the federal securities laws and/or engaged in other illegal business practices. More information on each case can be found at the link provided.
Enviva, Inc. (NWSE: EVA)
Enviva is the subject of a report published by Blue Orca Capital on October 12, 2022. The report claims that the Company is moving away from its ESG ideals by relying on carbon loopholes that “subsidize European power companies to replace coal with wood pellets derived of. deforestation in the United States.” Blue Orca claims that the Company produces its wood pellets from clearcut forests, a practice condemned by climate activists and ESG investors. The report adds that the Company exaggerated the sustainability of its hardwood harvests and artificially inflated its profit margin.
Based on the report, Enviva stock fell $2.59 per share, or 4.7%, to close at $52.05 per share on October 13, 2022.
For more information about the Enviva investigation go to: https://bespc.com/cases/EVA
Tattooed Chef, Inc. (NASDAQ: TTCF)
On October 12, 2022, after market hours, Tattooed Chef announced that it would restate its quarterly and annual financial statements for 2021, and for its first and second quarter financial periods of 2022. Tattooed Chef stated that these financial statements are no longer be reliable. .
Tattooed Chef stated that the statements are because it was notified earlier this month by its former independent registered public accounting firm, BDO USA LLP, that “the company incorrectly recorded expenses related to a multi-vendor mailing program with a large client as operating expenses rather ol. reduction of income, and expenses for advertising placement by a marketing service company on a direct basis during the life of the contract rather than when the services were actually performed.”
On this news, Tattooed Chef stock prices decreased by $0.44, or approximately 9.8%, to open on October 13, 2022 at $4.05 per share.
For more information on the Tattooed Chef investigation go to: https://bespc.com/cases/TTCF
Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE: HASI)
On October 5, 2022, Muddy Waters principal Carson Block claimed in the Financial Times that Hannon’s accounting is “so complex and misleading that its financial statements are effectively meaningless” and that the Company is “a prime example of like public market incentives. can cripple a company in relentlessly destroying value to fuel a Wall Street growth story.”
On this news, Hannon’s stock price fell $2.35 per share, or 7.43%, to close at $29.28 per share on October 5, 2022.
For more information on the Hannon investigation go to: https://bespc.com/cases/HASI
Flagstar Bancorp, Inc. (NYSE: FBC)
On or around October 6, 2022, media reported that the Justice Department may be considering a lawsuit against Flagstar over allegations of racial discrimination.
On this news, Flagstar’s stock price fell $1.78 per share, or 5.02%, to close at $33.70 per share on October 6, 2022.
For more information on the Flagstar investigation go to: https://bespc.com/cases/FBC
About Bragar Eagel & Squire, PC:
Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivatives and other complex litigation in state and federal courts across the country. For more information about the company, please visit www.bespc.com. Lawyer advertising. Previous results do not guarantee similar results.
Bragar Eagel & Squire, PC
Brandon Walker, Esq.
Melissa Fortunato, Esq.
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