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SEI Stock News: Solaris Energy Infrastructure, Inc. Investors Should Contact Robbins LLP for Information About the Pending Lead Plaintiff Deadline in the SEI Class Action
GlobeNewswire News Roomยท 2025-05-09 20:16
Core Viewpoint - A class action lawsuit has been filed against Solaris Energy Infrastructure, Inc. (SEI) for allegedly misleading investors regarding the acquisition of Mobile Energy Rentals LLC (MER) and its impact on the company's value [1][2]. Group 1: Allegations and Misconduct - The lawsuit claims that during the class period, Solaris failed to disclose critical information about MER, including its lack of corporate history in mobile turbine leasing and a non-diversified earnings stream [2]. - It is alleged that MER's co-owner has a criminal background related to turbine fraud, which Solaris did not disclose, leading to an overstatement of the acquisition's commercial prospects [2]. - The complaint also states that Solaris inflated its profitability metrics by not properly depreciating its turbines, contributing to misleading financial representations [2]. Group 2: Financial Impact - Following the revelation of these allegations, Solaris' stock price dropped by $4.15, or 16.9%, closing at $20.46 per share on March 17, 2025 [2]. Group 3: Class Action Participation - Shareholders interested in participating as lead plaintiffs in the class action must file their papers by May 27, 2025, although participation is not required to be eligible for recovery [3].