EnCore Energy Corp. Faces Class Action Lawsuit Following 46.4% Stock Drop

Lead Plaintiff Deadline is May 13, 2025

PLEASE CLICK HERE TO JOIN CASE AND PROVIDE CONTACT INFORMATION

/EIN News/ -- NEW YORK, March 20, 2025 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces the filing of a class action lawsuit against enCore Energy Corp. (NASDAQ: EU). This lawsuit, filed in the United States District Court for the Southern District of Texas, represents all individuals and entities who bought or acquired enCore securities between March 28, 2024, and March 2, 2025. The complaint alleges that enCore made misleading statements and omitted crucial information about its business, operations, and prospects during this period.

Investors who purchased enCore securities during the specified timeframe should act promptly. Learn more about your legal rights and potential involvement in this class action by visiting our website.

Contact Wolf Haldenstein directly for further information and to determine your eligibility.

"This class action lawsuit against enCore Energy Corp. alleges significant misrepresentations and omissions regarding the company's financial health and internal controls," said Wolf Haldenstein . "The complaint highlights a substantial net loss of $61.3 million in 2024, more than double the previous year's loss, coupled with undisclosed material weaknesses in internal controls and the inability to capitalize certain development costs under GAAP. We believe investors were misled during the Class Period, resulting in substantial financial harm."

The lawsuit centers on several key allegations. These include claims that enCore lacked effective internal financial reporting controls; that the company improperly accounted for exploratory and development costs under Generally Accepted Accounting Principles (GAAP); and that these issues led to a significant overstatement of its financial performance, resulting in substantially increased net losses.

Supporting this claim, enCore reported a net loss of $61.3 million for 2024, more than double the previous year's loss. The company attributed this partly to its inability to capitalize certain exploratory and development costs under U.S. GAAP, costs that would have been capitalized under International Financial Reporting Standards (IFRS). Furthermore, enCore disclosed a "material weakness" in its internal financial controls, stemming from an ineffective control environment impacting risk assessment, communication, and monitoring. This weakness, identified in 2024, was not fully resolved. The company also announced a change in CEO leadership on March 3, 2025. The combination of these announcements caused a significant drop in enCore's stock price—a 46.4% decrease on March 3, 2025.

This class action lawsuit seeks to recover losses for investors affected by these alleged misrepresentations and omissions. The detailed allegations within the complaint highlight the potential severity of financial irregularities and the resulting impact on investors. Don't delay; contact  Wolf Haldenstein today to learn more about protecting your investment.

Wolf Haldenstein has experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas, and offices in New York, Chicago, Nashville and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation. If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via email at classmember@whafh.com.

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP

Gregory Stone, Director of Case and Financial Analysis

Email: classmember@whafh.com

Tel: (800) 575-0735 or (212) 545-4774

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.