NEW YORK, June 12, 2018 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the District of Nevada on behalf of all persons or entities who purchased or otherwise acquired Ormat Technologies, Inc. (NYSE:ORA) securities between August 8, 2017 and April 15, 2018 (the “Class Period”). Investors have until August 10, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that (1) there were errors in the income tax provision primarily relating to Ormat’s valuation allowance based on its ability to utilize foreign tax credits in the U.S. prior to their expiration; (2) Ormat violated United States generally accepted accounting principles; (3) Ormat’s internal controls over financial reporting were ineffective; (4) Ormat would need to restate its second, third and fourth quarter 2017 financial statements and its full-year 2017 financial statements; and (5) as a result, defendants’ statements about Ormat’s business, operations and prospects were materially false and misleading and/or lacked a reasonable bases at all relevant times. The complaint claims that when the truth was revealed to the market, investors suffered damages.
If you purchased Ormat Technologies securities during the Class Period or continue to hold shares purchased before the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the Ormat Technologies Inc. lawsuit, please go to https://bespc.com/ora/. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.
Contacts
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com