#United States #New York #Securities Law #Faruqi & Faruqi #Solaris Energy

Ongoing Investigation by Faruqi & Faruqi, LLP

Faruqi & Faruqi, LLP, a prominent national securities law firm based in New York, Pennsylvania, California, and Georgia, recently initiated an investigation concerning potential claims against Solaris Energy Infrastructure, Inc. (NYSE: SEI). The firm is urging investors who experienced losses exceeding $100,000 in Solaris between July 9, 2024, and March 17, 2025, to contact them directly to explore possible legal actions.
The deadline for interested parties to apply for the role of lead plaintiff in a federal securities class action lawsuit against Solaris is May 27, 2025. This significant legal development stems from accusations that the company and its executives failed to comply with federal securities laws, along with allegations of misleading investors regarding its business practices and financial performance.

Allegations Against Solaris

The investigation is rooted in claims that Solaris misrepresented critical information, which led to serious financial consequences for investors. Specifically, the complaint outlines that:
1. Mobile Energy Rentals LLC (MER), which Solaris acquired, had minimal corporate history in the mobile turbine leasing sector.
2. MER did not maintain a diversified earnings portfolio.
3. The co-owner of MER, John Tuma, held a criminal record related to environmental crimes and was previously linked to a significant gas turbine scandal.
4. These issues resulted in Solaris overestimating the business potential after acquiring MER.
5. Solar's inflated financial metrics were due to improper depreciation practices regarding its turbine assets.
6. Overall, positive statements made by Solaris regarding its operations were found to be significantly misleading.

The situation escalated on March 17, 2025, following the release of an investigative report from Morpheus Research. The report raised alarming points about the real nature of MER's business operations, revealing that it operated from a condo with zero employees. Despite these revelations, Solaris had previously portrayed MER as a thriving company with substantial revenue capabilities.

Impact on Shareholders

Upon the dissemination of this investigative report, Solaris experienced a substantial drop in stock price, plummeting by $4.15, or 16.9%, to close at $20.46 per share, amid an increase in trading activity. This sharp decline raised significant concerns amongst investors regarding the integrity of Solaris' public disclosures and prompted the ongoing investigation by Faruqi & Faruqi, LLP.

Faruqi & Faruqi is advocating for investors who feel misled by Solaris to step forward and assert their rights. Those affected can either apply for the lead plaintiff role or simply remain a part of the class action without taking on any legal responsibilities. It's important for investors to note that their potential recovery would not be impacted by their choice regarding participation in the lead plaintiff process.

Call to Action for Investors

Faruqi & Faruqi, LLP encourages anyone with information regarding Solaris' operations, including former employees, whistleblowers, and current shareholders, to contact the firm. Legal counsel is available to discuss options pertaining to the recovery of losses due to the alleged misconduct. Interested parties can access further details regarding this significant investigation by visiting Faruqi’s official website for Solaris Energy or by calling Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

This legal inquiry encapsulates a crucial moment for investors who are seeking reparation for their financial setbacks. As the investigation unfolds, more details will likely surface, shedding light on Solaris Energy's practices and the firm’s future in the market.

Faruqi & Faruqi emphasizes that all communications will be kept confidential and prioritizes securing a favorable outcome for affected investors.