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ATTENTION NYSE: SEI INVESTORS: Contact Berger Montague About a Solaris Energy Infrastructure Class Action Lawsuit
SEISolaris Energy Infrastructure, Inc.(SEI) Prnewswire·2025-04-07 12:33

Core Viewpoint - A securities class action lawsuit has been filed against Solaris Energy Infrastructure, Inc. for alleged misrepresentation during the acquisition of Mobile Energy Rentals LLC, leading to significant stock price decline after revelations about the acquired company's questionable background [1][3]. Company Overview - Solaris Energy Infrastructure, Inc. is headquartered in Houston and develops equipment for the oil and gas industry [2]. - The company announced the acquisition of Mobile Energy Rentals LLC on July 9, 2024, and completed the acquisition on September 11, 2024 [2]. Allegations and Impact - A report by Morpheus Research on March 17, 2025, claimed that Mobile Energy Rentals was a small revenue business with no employees and no operational history in the mobile turbine rental industry, which raised concerns about its legitimacy [3]. - The report also disclosed that one of MER's co-owners had a criminal background linked to a significant gas turbine scandal involving 800million,includingallegationsofbidriggingandcorruption[3].Followingthepublicationofthisreport,Solarisstockpricedroppedby800 million, including allegations of bid rigging and corruption [3]. - Following the publication of this report, Solaris' stock price dropped by 4.15, nearly 17%, closing at $20.46 per share on March 17, 2025 [3].