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Business Wire
12-05-2025
- Business
- Business Wire
Important May 13 Deadline in enCore Energy (EU) Investor Lawsuit, Alleging Financial Misstatements and Internal Control Failures- Hagens Berman
SAN FRANCISCO--(BUSINESS WIRE)--enCore Energy Corp. (NASDAQ: EU), a company focused on the exploration and development of uranium resources, is facing a class-action lawsuit that accuses its leadership of misleading investors and failing to disclose serious financial vulnerabilities. The deadline for investors to seek appointment as lead plaintiff in the lawsuit is May 13, 2025. Hagens Berman urges enCore Energy investors who suffered substantial losses to submit your losses now. enCore Energy Corp. (EU) Securities Class Action: The case, formally known as Zhongjian v. enCore Energy Corp. (No. 25-cv-01234, S.D. Tex.), was brought on behalf of shareholders who acquired enCore securities between March 28, 2024, and March 2, 2025. The complaint centers on allegations that enCore and several of its executives violated the Securities Exchange Act of 1934 by making false or incomplete statements about the company's financial health. According to the complaint, enCore is accused of lacking robust internal controls over its financial reporting. The lawsuit further contends that the company was unable to capitalize certain exploration and development expenses under U.S. Generally Accepted Accounting Principles (GAAP), a move that would have been permitted under International Financial Reporting Standards (IFRS). These accounting issues, the complaint asserts, contributed to a dramatic escalation in net losses. On March 3, 2025, enCore released its fiscal 2024 results, reporting a net loss of $61.3 million-more than double the $25.6 million loss recorded in the previous year. In its public disclosures, the company attributed the widening losses to its inability to capitalize certain costs under GAAP, which would have been allowed under IFRS. Additionally, enCore acknowledged that it had identified a 'material weakness' in its internal controls over financial reporting, citing shortcomings in risk assessment, information flow, and monitoring. These financial disclosures coincided with a sudden change in leadership. On March 2, 2025, enCore announced that Paul Goranson had resigned as chief executive and as a member of the board. Robert Willette, previously the company's Chief Legal Officer, was named Acting CEO by the board. The fallout from these revelations was immediate and severe. enCore's share price plunged more than 46% following the announcements, erasing significant value for investors. The lawsuit seeks to recover damages for those who suffered losses during the class period, alleging that shareholders were misled about the true state of the company's finances. Hagens Berman's Investigation: Acclaimed class action law firm Hagens Berman has launched an investigation into the alleged claims. 'The case highlights the risks investors face when companies allegedly fail to maintain rigorous internal controls and transparent financial reporting. Investors rely on accurate information to make informed decisions,' said Reed Kathrein, the partner leading the firm's investigation. 'When companies fall short, the consequences can be swift and severe.' If you invested in enCore and have substantial losses, or have knowledge that may assist the firm's investigation, submit your losses now » If you'd like more information and answers to frequently asked questions about the enCore case and our investigation, read more » Whistleblowers: Persons with non-public information regarding enCore should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email EU@ Hagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman's team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at Follow the firm for updates and news at @ClassActionLaw.
Business Wire
12-05-2025
- Business
- Business Wire
FINAL DEADLINE ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of enCore
NEW YORK--(BUSINESS WIRE)-- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against enCore Energy Corp. ('enCore' or the 'Company') (NASDAQ: EU) and reminds investors of the May 13, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi reminds investors of the May 13, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Share Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose: 1) that enCore lacked effective internal controls over financial reporting; (2) that enCore could not capitalize certain exploratory and development costs under GAAP; (3) that, as a result, its net losses had substantially increased; and (4) 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. On March 3, 2025, enCore 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). The Company explained 'the inability to capitalize certain exploratory and development costs under U.S. GAAP which would have been capitalized under IFRS [International Financial Reporting Standards]' impacted the Company's results. Further, the Company revealed that it had 'identified in 2024' a 'material weakness' in the Company'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.' Also on March 2, 2025, the Company also revealed that it had appointed a new acting Chief Executive Officer 'effective immediately' and that Paul Goranson 'is no longer serving as enCore's Chief Executive Officer or as a member of the board of directors.' On this news, enCore's stock price fell $1.17, or 46.4%, to close at $1.35 per share on March 3, 2025, on unusually heavy trading volume. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding enCore's conduct to contact the firm, including whistleblowers, former employees, shareholders and others. To learn more about the enCore Energy Corp. class action, go to or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). Follow us for updates on LinkedIn, on X, or on Facebook. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
Associated Press
17-03-2025
- Business
- Associated Press
DEADLINE ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of enCore
Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against enCore Energy Corp. ('enCore' or the 'Company') (NASDAQ: EU) and reminds investors of the May 13, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose: 1) that enCore lacked effective internal controls over financial reporting; (2) that enCore could not capitalize certain exploratory and development costs under GAAP; (3) that, as a result, its net losses had substantially increased; and (4) 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. On March 3, 2025, enCore 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). The Company explained 'the inability to capitalize certain exploratory and development costs under U.S. GAAP which would have been capitalized under IFRS [International Financial Reporting Standards]' impacted the Company's results. Further, the Company revealed that it had 'identified in 2024' a 'material weakness' in the Company'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.' Also on March 2, 2025, the Company also revealed that it had appointed a new acting Chief Executive Officer 'effective immediately' and that Paul Goranson 'is no longer serving as enCore's Chief Executive Officer or as a member of the board of directors.' On this news, enCore's stock price fell $1.17, or 46.4%, to close at $1.35 per share on March 3, 2025, on unusually heavy trading volume. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding enCore's conduct to contact the firm, including whistleblowers, former employees, shareholders and others. To learn more about the enCore Energy Corp. class action, go to or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner. 877-247-4292 or 212-983-9330 (Ext. 1310) SOURCE: Faruqi & Faruqi, LLP Copyright Business Wire 2025. PUB: 03/17/2025 01:28 PM/DISC: 03/17/2025 01:28 PM
