StockNews.AI
SHLS
StockNews.AI
144 days

Shoals Technologies Long-Term Shareholder Announcement: Johnson Fistel Encourages Investors to Reach Out For More Information

1. Johnson Fistel is investigating claims against Shoals' officers and directors. 2. A class action lawsuit alleges misleading statements by Shoals’ management. 3. Defendants reportedly failed to disclose quality issues and financial misstatements. 4. Remediation costs for defects could reach $185 million, impacting Shahls' finances. 5. Shareholders may have rights to pursue separate claims beyond the class action.

6m saved
Insight
Article

FAQ

Why Very Bearish?

Allegations of mismanagement and financial misstatements could severely damage investor confidence, like with past cases (e.g. Enron).

How important is it?

The issues raised in the lawsuit could lead to significant financial repercussions for Shoals, making it crucial for current and potential investors.

Why Short Term?

Negative sentiment and potential financial liabilities will impact SHLS’s stock price immediately.

Related Companies

ENPHSPWRCSIQ
SAN DIEGO, March 28, 2025 (GLOBE NEWSWIRE) -- Johnson Fistel, PLLP is investigating potential claims on behalf of Shoals Technologies Group, Inc. (“Shoals” or the “Company”) (NASDAQ: SHLS) against certain of its officers and directors to hold them responsible for damages they allegedly caused the company to suffer. If you have continuously owned Shoals shares since before May 17, 2022, you have certain legal rights as a shareholder.  If you want to learn more, please read below or submit your information at: https://www.johnsonfistel.com/investigations/shoals-technologies-group-inc  Previously, a class action lawsuit was filed against Shoals seeking damages, but only for those who acquired stock between January 27, 2021 and November 7, 2023 (the “Class Period”). If you purchased shares before the Class Period, you will not be able to participate in any recovery obtained in the class action, but you may be able to participate in a separate action seeking to hold the officers and directors who engaged in the alleged wrongdoing responsible for any damage to the company. The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Shoals did not deliver EBOS products that met the highest levels of quality and reliability; (2) Shoals had received reports of exposed copper conduit in EBOS wire harnesses in a large number of solar fields and was aware that a significant portion of its wire harnesses had defects; (3) Shoals would have to incur between $60 million to $185 million in costs to remediate the wire shrinkback issue; and (4) Shoals had understated its cost of revenue by millions of dollars; and (5) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times. If you would like to know more about your rights as a shareholder or how you can participate in holding the officers and directors responsible for the damage that they allegedly caused the company to suffer, please contact Johnson Fistel at (619) 814-4471. About Johnson Fistel, PLLP | Top Law Firm, Securities Fraud, Investors Rights:Johnson Fistel, PLLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. We also extend our services to foreign investors who have purchased on US exchanges. Stay updated with news on stock drops and learn how Johnson Fistel, PLLP can help you recover your losses. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Achievements: In 2024, Johnson Fistel was honored to be ranked in the Top 10 Plaintiff Law Firms by the ISS Securities Class Action Services. This recognition underscores our effectiveness in advocating for investors, having recovered approximately $90,725,000 for aggrieved clients in cases where we served as lead or co-lead counsel. This notable accomplishment marks the eighth occasion our firm has been recognized as a top plaintiffs’ securities law firm in the United States, as determined by the total dollar value of final recoveries. Attorney advertising.Past results do not guarantee future outcomes.Services may be performed by attorneys in any of our offices.Johnson Fistel, PLLP has paid for the dissemination of this promotional communication, and Frank J. Johnson is the attorney responsible for its content. Contact: Johnson Fistel, PLLP501 W. Broadway, Suite 800, San Diego, CA 92101James Baker, Investor Relations or Frank J. Johnson, Esq., (619) 814-4471jimb@johnsonfistel.com or fjohnson@johnsonfistel.com 

Related News