enCore Energy Corp. Investors: Please contact the Portnoy Law Firm to recover your losses; May 13, 2025 Deadline to file Lead Plaintiff Motion

Core Viewpoint - enCore Energy Corp. is facing a class action lawsuit due to alleged misleading statements and failures in financial reporting during the specified class period, leading to significant investor losses [3][4]. Summary by Relevant Sections Class Action Details - The class action lawsuit represents investors who purchased enCore securities between March 28, 2024, and March 2, 2025, with a deadline for filing a lead plaintiff motion set for May 13, 2025 [1]. Allegations Against enCore Energy - The lawsuit claims that enCore Energy made false or misleading statements and failed to disclose critical information, including: - Lack of effective internal controls over financial reporting [3]. - Inability to capitalize certain exploratory and development costs according to U.S. GAAP [3]. - Resulting in net losses that were significantly greater than previously reported [3]. Financial Impact - On March 3, 2025, enCore Energy reported a fiscal 2024 net loss of $61.3 million, more than double the $25.6 million loss from the previous fiscal year [4]. - The increased loss was partly attributed to the inability to capitalize certain costs under U.S. GAAP, which would have been capitalized under IFRS [4]. - The company also disclosed a "material weakness" in its internal controls over financial reporting, citing deficiencies in risk assessment and monitoring activities [4]. - Following these disclosures, enCore Energy's stock price fell by over 46% [4].