Energy News / Shareholders Foundation, Inc.

NYSE:ORA Investor Alert: Lawsuit Alleges Misleading Statements by Ormat Technologies, Inc

Via: ReleaseWire

Updated 11:00 AM CDT, Wed, June 27,2018

A lawsuit was filed on behalf of investors in Ormat Technologies, Inc. (NYSE: ORA) shares over alleged securities laws violations.

San Diego, CA -- (SBWIRE) -- 06/27/2018 -- An investor, who purchased shares of Ormat Technologies, Inc. (NYSE: ORA), filed a lawsuit over alleged Securities Laws violations by Ormat Technologies, Inc..

Investors who purchased shares of Ormat Technologies, Inc. (NYSE: ORA) have certain options and for certain investors are short and strict deadlines running. Deadline: August 10, 2018. NYSE: ORA investors should contact the Shareholders Foundation at or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on behalf of purchasers of Ormat Technologies, Inc. (NYSE: ORA) common shares between August 8, 2017 and May 15, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between August 8, 2017 and May 15, 2018, the Defendants' made false and/or misleading statements and/or failed to disclose that 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, that Ormat Technologies, Inc. netted certain deferred income tax assets and deferred income tax liabilities across different tax jurisdictions that are not permitted to be netted pursuant to United States generally accepted accounting principles, that Ormat Technologies, Inc's internal controls over financial reporting were ineffective during the Class Period, that due to the foregoing, Ormat Technologies, Inc. would need to restate its second, third and fourth quarter 2017 financial statements and its full-year 2017 financial statements, and that as a result, Defendants' statements about the Company's business, operations and prospects were materially false and misleading and/or lacked a reasonable bases at all relevant times.

Those who purchased shares of Ormat Technologies, Inc. (NYSE: ORA) have certain options and should contact the Shareholders Foundation.

Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739

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Media Relations Contact
Michael Daniels
Email: Click to Email Michael Daniels