Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, April 28, 2025 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises enCore Energy Corp. ("enCore" or the "Company") (NASDAQ: EU) investors of a class action representing investors that bought securities between March 28, 2024 and March 2, 2025, 2025, inclusive (the "Class Period"). enCore investors have until May 13, 2025 to file a lead plaintiff motion.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
The enCore Energy class action lawsuit alleges that, during the Class Period, defendants 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 was unable to capitalize certain exploratory and development costs in accordance with U.S. Generally Accepted Accounting Principles (GAAP); and (iii) as a result, enCore Energy’s net losses were significantly greater than previously represented.
The lawsuit further alleges that, on March 3, 2025, enCore Energy announced its fiscal 2024 financial results, reporting 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 attributed part of the increased loss to “[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].” Additionally, enCore Energy disclosed that it had identified a "material weakness" in its internal controls over financial reporting in 2024, citing an "ineffective control environment" that led to deficiencies in risk assessment, information and communication processes, and monitoring activities. Following these disclosures, the price of enCore Energy stock declined by more than 46%, according to the complaint.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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