enCore Energy Corp. (EU) Investigation

The investigation is focused on the propriety of enCore’s statements about the state of its internal controls over financial reporting.

The company’s March 3rd disclosures stand in stark contrast to enCore's previous assurances. On March 28, 2024, the company had confidently stated that its CEO and CFO had assessed the effectiveness of internal controls as of December 31, 2023, declaring them "effective" with "no material weaknesses" discovered.

enCore’s newly revealed internal control issues are extensive. The company admitted to ineffective design, implementation, and operation of process-level control activities related to financial reporting processes. Management attributed these weaknesses to an ineffective control environment, resulting in inadequate risk management, information and communications, and monitoring activities.

Furthermore, enCore acknowledged a lack of effective risk assessment processes for internal control over financial reporting. This deficiency led to unclear financial reporting objectives and insufficient evaluation of risks, including those stemming from changes in the external environment and business operations.

The stark reversal in enCore’s financial health and control assessments has prompted legal scrutiny. Hagens Berman, a national shareholder rights law firm, has launched an investigation into the propriety of enCore’s previous statements regarding its internal controls.

FREQUENTLY ASKED QUESTIONS ABOUT THE CASE

What is the EU investigation about?

We are investigating the extent to which enCore's admitted control weaknesses may have been unknown to investors and the extent to which they may have adversely impacted its financial results.

WHAT SHOULD I DO?

I worked at EU. What should I do?

If you were an employee of EU, you may have valuable information that could be relevant to the investigation. Hagens Berman is one of the nation’s top whistleblower law firms, and has successfully represented many individuals who come forward with information regarding corporate malfeasance. Under the new SEC Whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, contact Reed Kathrein at 844-916-0895 or [email protected].

There are multiple law firms participating, do I need to contact all of them?

No, you do not need to contact all participating law firms. Generally, class-action investigations and lawsuits are consolidated into a single case to streamline the legal process, and attorneys from only a few law firms are selected to serve in a leadership role on the consolidated case. Hagens Berman has a proven track record of being appointed to leadership roles in complex, multidistrict litigation regarding investor fraud and other consumer rights issues, and your claim will be handled by attorneys who have helped secure approximately $325 billion in class-action settlements on behalf of individuals who have suffered due to corporate malfeasance and the wrongdoing of other powerful institutions.

AM I ELIGIBLE?

What is the threshold amount to be eligible? What are “substantial” losses?

The threshold amount and the definition of "substantial" losses may vary depending on a number of factors specific to the case, including the size of the company, market cap, shares outstanding and who holds them and the damages alleged by the fraud. In general, to be eligible to participate in a class-action lawsuit, you must be able to demonstrate that you suffered financial losses as a result of the alleged wrongdoing and that your losses meet the criteria set by the court or law firm. Fill out the form and submit your losses.

CAN I PARTICIPATE?

Am I affected? What do I need to do to participate?

If you were an investor in EU, you may be affected and eligible to participate in the case. To determine your eligibility and potential involvement, fill out the form and submit your losses.

Can any EU investor participate?

In most class-action investigations and cases, any investor who meets the eligibility criteria, including purchasing the shares during the relevant period, can participate, regardless of the size of their investment. Fill out the form to find out your rights.

I bought on a non-U.S. Exchange. Can I participate?

No. This investigation only covers shares bought on a U.S. exchange, i.e. NASDAQ or NYSE. Fill out the form to find out your rights.

Am I included if I still hold my shares, or do I need to sell to participate?

Participation is based on purchasing shares during the relevant period, rather than your current holdings. Accordingly, you do not need to sell to participate. Fill out the form to find out your rights.