SAN FRANCISCO, CA – (March 20, 2025) – National plaintiffs law firm Lieff Cabraser Heimann & Bernstein, LLP encourages investors in enCore Energy Corp. (“enCore” or the “Company”) (NASDAQ: EU) who purchased or otherwise acquired enCore securities between March 28, 2024 and March 2, 2025, inclusive (the “Class Period”) to contact us immediately regarding a pending securities class action against enCore. The deadline to apply to be lead plaintiff is May 13, 2025.
Class Period: March 28, 2024 – March 2, 2025
Lead Plaintiff Motion Deadline: May 13, 2025
Case information: https://lieffcabraser.com/securities/encore-energy/
Contact us: Email or text investorinfo@lchb.com or call 1-800-541-7358
enCore, headquartered in Corpus Christi, Texas, acquires, explores, and develops uranium resource properties in the United States.
The action alleges that, throughout the Class Period, enCore and certain of its senior executives failed to disclose to investors that: (1) the Company lacked effective internal controls over financial reporting; (2) enCore could not capitalize certain exploratory and development costs under Generally Accepted Accounting Principles (“GAAP”); and (3) as a result, enCore’s net losses had sharply increased.
On May 3, 2025, enCore released disappointing fiscal 2024 financial results, revealing it had suffered a net loss of $61.3 million, more than twice its net loss in the previous fiscal year. The Company attributed the results to “the inability to capitalize certain exploratory and development costs under U.S. GAAP which would have been capitalized under [International Financial Reporting Standards].” enCore also disclosed that it had “identified in 2024” a material weakness in the Company’s internal controls over financial reporting due primarily to “an ineffective control environment that resulted in ineffective risk assessment, information, and communications and monitoring activities.” Additionally, enCore revealed it had appointed a new Chief Executive Officer “effective immediately” as Paul Goranson would no longer be serving as CEO and Director. On this news, enCore’s stock price declined $1.17 per share, or 46.43%, from its closing price of $2.52 per share on March 2, 2025, to close at $1.35 per share on March 3, 2025, on extremely heavy trading volume.
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Lieff Cabraser Heimann & Bernstein, LLP, with over 125 attorneys in offices in San Francisco, New York, Nashville, and Munich, Germany, is an internationally-recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. Repeatedly recognized as a “Plaintiffs’ Powerhouse” by Law360, Lieff Cabraser has litigated some of the most important civil cases in the United States, and has assisted clients in recovering over $129 billion in verdicts and settlements. For over 50 years, Lieff Cabraser has remained committed to ensuring access to justice for all.
Source/Contact
Sharon Lee
Lieff Cabraser Heimann & Bernstein, LLP
415 956-1000
slee@lchb.com
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