An investigation on behalf of current long term investors in Ormat Technologies, Inc. (NYSE: ORA) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 09/24/2018 -- Certain directors of Ormat Technologies, Inc are under investigation over potential breaches of fiduciary duties.
Investors who are current long term investors in Ormat Technologies, Inc. (NYSE: ORA) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NYSE: ORA stocks follows a lawsuit filed against Ormat Technologies, Inc over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: ORA stocks, concerns whether certain Ormat Technologies, Inc. directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that 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.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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