Core Viewpoint - A class action lawsuit has been filed against Solaris Energy Infrastructure, Inc. for allegedly making false and misleading statements regarding its business operations and prospects during the specified class period [1][3]. Summary by Relevant Sections Lawsuit Details - The lawsuit is filed in the United States District Court for the Southern District of Texas on behalf of all individuals and entities who purchased Solaris securities between July 9, 2024, and March 17, 2025 [1]. - Investors have until May 27, 2025, to apply to be appointed as lead plaintiff in the lawsuit [1]. Allegations Against Solaris - The complaint alleges that Solaris made materially false and misleading statements and failed to disclose adverse facts about its business [3]. - Specific allegations include: - Mobile Energy Rentals LLC (MER) had little to no corporate history in mobile turbine leasing [3]. - MER lacked a diversified earnings stream [3]. - A co-owner of MER was a convicted felon with a history of turbine-related fraud allegations [3]. - Solaris overstated the commercial prospects of its acquisition of MER [3]. - Solaris inflated profitability metrics by not properly depreciating its turbines [3]. - Positive statements made by Solaris regarding its business were materially misleading and lacked a reasonable basis [3].
SOLARIS ALERT: Bragar Eagel & Squire, P.C. Announces that a Class Action Lawsuit Has Been Filed Against Solaris Energy Infrastructure, Inc. and Encourages Investors to Contact the Firm