enCore Energy Corp. Class Action Lawsuit - EU
Case Summary
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The enCore Energy class action lawsuit seeks to represent purchasers or acquirers of enCore Energy Corp. (NASDAQ: EU) securities between March 28, 2024 and March 2, 2025, inclusive (the “Class Period”). Captioned Zhongjian v. enCore Energy Corp., No. 25-cv-01234 (S.D. Tex.), the enCore Energy class action lawsuit charges enCore Energy and certain of enCore Energy’s top current and former executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the enCore Energy class action lawsuit, please provide your information in the form on this page. You can also contact attorney J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@rgrdlaw.com. Lead plaintiff motions for the enCore Energy class action lawsuit must be filed with the court no later than May 13, 2025.
CASE ALLEGATIONS: enCore Energy engages in the acquisition, exploration, and development of uranium resource properties in the United States.
The enCore Energy class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) enCore Energy lacked effective internal controls over financial reporting; (ii) enCore Energy could not capitalize certain exploratory and development costs under GAAP; and (iii) as a result, enCore Energy’s net losses had substantially increased.
The enCore Energy class action lawsuit further alleges that on March 3, 2025, enCore Energy announced its fiscal 2024 financial results, revealing a net loss of $61.3 million (more than double its net loss of $25.6 million in the prior fiscal year). According to the complaint, enCore Energy explained “[t]he inability to capitalize certain exploratory and development costs under U.S. GAAP which would have been capitalized under IFRS [International Financial Reporting Standards]” impacted enCore Energy’s results. enCore Energy further revealed that it had “identified in 2024” a “material weakness” in enCore Energy’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,” the enCore Energy class action lawsuit further alleges. On this news, the price of enCore Energy stock fell more than 46%, according to the complaint.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired enCore Energy securities during the Class Period to seek appointment as lead plaintiff in the enCore Energy class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the enCore Energy class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the enCore Energy class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the enCore Energy class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud and shareholder litigation. Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors. In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world, and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig.