Robbins LLP Encourages EU Stockholders of enCore Energy Corp to Join Class Action Litigation

Robbins LLP has issued a reminder to investors regarding their rights and actions following the recent class action lawsuit against enCore Energy Corp. for their lack of transparency. The firm is calling upon shareholders who purchased or otherwise obtained enCore securities between March 28, 2024, and March 2, 2025, to consider stepping forward as lead plaintiffs in this significant case.

Background of the Case

EnCore Energy Corp. is primarily involved in the acquisition, exploration, and development of uranium resources across the U.S. In recent months, concerns have arisen regarding the company’s financial reporting practices and internal controls, leading to a notable class action filing. Allegations have surfaced that enCore misled investors about its business prospects, resulting in significant financial ramifications.

The lawsuit asserts that during the specified class period, enCore defendants neglected to disclose critical information regarding the company's internal controls over financial reporting. Specifically, they failed to inform investors that:
1. enCore lacked effective internal controls necessary for reliable financial reporting.
2. Due to violations of Generally Accepted Accounting Principles (GAAP), certain exploratory and developmental costs could not be capitalized, leading to inflated financial losses.
3. Consequently, the company's reported net losses saw an alarming surge.

On March 3, 2025, enCore released its fiscal year 2024 results, revealing a staggering net loss of $61.3 million, more than double its losses from the previous year. The company's statement indicated that this increase was due to its inability to capitalize on certain costs under GAAP—a situation that had not been adequately communicated to investors. Additionally, the company acknowledged identifying a significant weakness in their internal controls over financial reporting, which further impacted their financial outcomes.

The situation took a turn when a new acting Chief Executive Officer was appointed just before these critical financial disclosures, further unsettling investors. Following this announcement, enCore's stock suffered a drastic decline of approximately 46.4%, tumbling to $1.35 per share.

What Shareholders Should Do

Investors who are part of the affected group and wish to take on the role of lead plaintiff must file necessary documents with the court by May 13, 2025. Having a lead plaintiff is crucial as it allows one shareholder to act on behalf of all class members directing the course of the litigation. However, it is important to note that participation is not required to secure any potential recoveries; shareholders can retain their status as absent class members if they choose not to participate directly.

Robbins LLP works on a contingency fee basis, meaning that shareholders will incur no costs or fees unless a recovery is realized through the case. This allows investors to pursue their claims without the burden of upfront expenses.

About Robbins LLP

Established in 2002, Robbins LLP has gained recognition as a leader in shareholder rights litigation. The firm is committed to aiding investors in recovering their losses, enhancing corporate governance, and ensuring accountability among corporate executives for any wrongdoing. Their dedication to protecting investor interests makes them a valuable ally for those involved in complex securities litigation.

If you are an investor in enCore Energy Corp and are interested in potential legal action or want to stay informed about any developments, it is advised to reach out via their contact number: (800) 350-6003, or visit their official page for more information. Other investors who are concerned about corporate wrongdoing are encouraged to sign up for Stock Watch, which provides alerts on corporate malfeasance.

This unfolding situation underlines the critical importance of transparency and accountability within publicly traded companies. Shareholders deserve to have their voices heard and their rights protected, and Robbins LLP stands ready to assist in these endeavors.