enCore Energy(US:EU) Prnewswire·2025-03-28 14:41Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against enCore Energy Corp due to allegations of violations of federal securities laws, with a deadline for investors to seek lead plaintiff status in a class action lawsuit by May 13, 2025 [2][5]. Financial Performance - enCore reported a net loss of $61.3 million for fiscal 2024, which is more than double the net loss of $25.6 million from the previous fiscal year [4]. - The company cited the inability to capitalize certain exploratory and development costs under U.S. GAAP as a significant factor impacting its financial results [4]. Internal Controls and Management Changes - enCore identified a "material weakness" in its internal controls over financial reporting, attributed to an ineffective control environment [4]. - The company appointed a new acting Chief Executive Officer on March 2, 2025, following the departure of Paul Goranson from the CEO position and the board of directors [4]. Stock Market Reaction - Following the announcement of its fiscal results and management changes, enCore's stock price fell by $1.17, or 46.4%, closing at $1.35 per share on March 3, 2025, amid unusually heavy trading volume [4].