Philadelphia, Pennsylvania--(Newsfile Corp. - March 28, 2024) - Current Shoals Technologies Group, Inc. (NASDAQ: SHLS) shareholders who have held shares of the Company's stock since at least May 17, 2022, have standing to seek corporate reforms, the return of funds back to company coffers and potentially a court approved incentive award if appropriate, at no cost to you whatsoever. Click here to learn more: https://grabarlaw.com/the-latest/shoals-shareholder-investigation/.
Grabar Law Office is investigating claims on behalf of Shoals shareholders. The investigation concerns whether certain officers and directors of Shoals have breached their fiduciary duties owed to the company.
Why: According to an underlying securities fraud class action complaint, certain officers and directors of Shoals failed to disclose 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. As a result, the Complaint alleges Defendants' positive statements about the Company's financial guidance, business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
What to do now: If you have held Shoals shares since prior to May 17, 2022 and would like to learn more at no cost to you, please visit https://grabarlaw.com/the-latest/shoals-shareholder-investigation/ or contact Joshua Grabar at jgrabar@grabarlaw.com or Mia Heller at mheller@grabarlaw.com, or call us at 267-507-6085.
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Contact:
Joshua H. Grabar, Esq.
Grabar Law Office
One Liberty Place
1650 Market Street, Suite 3600
Philadelphia, PA 19103
Tel: 267-507-6085
Email: jgrabar@grabarlaw.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/203451
