2-DAY DEADLINE ALERT: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Ormat Technologies, Inc. & E...
07 Agosto 2018 - 5:05PM
Business Wire
The Schall Law Firm, a national shareholder rights litigation
firm, announces the filing of a class action lawsuit against Ormat
Technologies, Inc. (“Ormat” or "the Company") (NYSE: ORA) for
violations of §§10(b) and 20(a) of the Securities Exchange Act of
1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities
and Exchange Commission.
Investors who purchased the Company's shares between August 8,
2017 and May 15, 2018, inclusive (the "Class Period"), are
encouraged to contact the firm before August 10, 2018.
If you are a shareholder who suffered a loss, click here to
participate.
We also encourage you to contact Brian Schall, or Sherin
Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite
404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights
free of charge. You can also reach us through the firm's website
at www.schallfirm.com, or by email
at brian@schallfirm.com.
The class, in this case, has not yet been certified, and until
certification occurs, you are not represented by an attorney. If
you choose to take no action, you can remain an absent class
member.
According to the Complaint, Ormat made false and misleading
statements to the market throughout the class period. The Company
failed to disclose error on its income tax provision relating to
usage of foreign tax credits before they expired. Ormat netted
deferred income tax assets and liabilities across different tax
jurisdictions, which is not allowed by GAAP guidelines. The
complaint also alleges that Ormat’s internal controls were not
effective. As a result, the Company would be required to restate
its financial results for the second, third, and fourth quarter of
2017 as well as the 2017 full-year financial statement. The lawsuit
states that Ormat’s public statements were false and misleading
based on the facts of the case. When the market learned the true
details about the Company, investors suffered damages.
The Schall Law Firm represents investors around the world and
specializes in securities class action lawsuits and shareholder
rights litigation.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and rules of
ethics.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180807005895/en/
The Schall Law FirmBrian Schall, Esq.Sherin Mahdavian,
Esq.310-301-3335info@schallfirm.comwww.schallfirm.com
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