Enviva, Inc. (NYSE: EVA)

This lawsuit is for anyone who acquired securities in Enviva, Inc. (NYSE: EVA) from November 3, 2022 through May 3, 2023.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by issuing guidance without a reasonable basis for doing so considering that the Company knew of headwinds facing the Company including high wood and labor costs.

On May 3, 2023, Enviva lowered its Full Year 2023 guidance and suspended its dividend payments going forward. The Company predicted that its 2023 EBITDA would be significantly lower and its net loss would be higher, stating that “contract labor is too high, discipline around repairs and maintenance spend is insufficient, wood input costs need to come down further and stay there, and utilization rates at specific plants need to improve and stabilize at those improved levels.” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Enviva, Inc. (NYSE: EVA) from November 3, 2022 through May 3, 2023 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.