According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that:
- B&W’s largest shareholder, BRC Group Holdings, Inc. (“BRC”), stood on both sides of the Power Generation Contract and had close ties to B&W’s counterparty;
- Applied Digital did not need the products and services that B&W would purportedly supply pursuant to the Power Generation LNTP and Contract;
- the foregoing, at the very least, would raise questions about the parties’ actual intent behind entering into the Power Generation LNTP and Contract, including whether B&W is likely to recognize revenues from these agreements;
- accordingly, the business and financial prospects of B&W were overstated; and
- as a result, defendants’ public statements were materially false and misleading at all relevant times.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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