According to the lawsuit, throughout the Class Period, defendants made made false and/or misleading statements and/or failed to disclose that:
- Mobile Energy Rentals LLC (“MER”) had little to no corporate history in the mobile turbine leasing space;
- MER did not have a diversified earnings stream;
- MER’s co-owner was a convicted felon associated with multiple allegations of turbine-related fraud;
- as a result, Solaris overstated the commercial prospects posed by the MER acquisition;
- Solaris inflated profitability metrics by failing to properly depreciate its turbines; and
- as a result of the foregoing, defendants’ positive statements about Solaris Energy’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
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.
Attorney Advertising. Prior results do not guarantee a similar outcome.
