NEW
YORK, May 21, 2024 /PRNewswire/ -- The Gross Law
Firm issues the following notice to shareholders of Shoals
Technologies Group, Inc. (NASDAQ: SHLS).
Shareholders who purchased shares of SHLS during the class
period listed are encouraged to contact the firm regarding possible
lead plaintiff appointment. Appointment as lead plaintiff is not
required to partake in any recovery.
CONTACT US HERE:
https://securitiesclasslaw.com/securities/shoals-technologies-loss-submission-form/?id=80716&from=4
CLASS PERIOD: This lawsuit is on behalf of all purchasers
of Shoals Class A common stock between January 27, 2021 and May
7, 2024 inclusive, including purchases directly in Shoals'
December 2022 secondary public
offering of Class A common stock.
ALLEGATIONS: The complaint alleges that
during the class period, Defendants issued materially false and/or
misleading statements and/or failed to disclose that: (1) Shoals
did not deliver EBOS, electrical balance of system, products that
met the highest levels of quality and reliability; (2) Shoals had
received reports of exposed copper conduit in EBOS wire harnessess
in a large number of solar fields and was aware that a significant
portion of its wire harnesses had defects; (3) Shoals would have to
incur between $60 million to
$185 million in costs to remediate
the wire shrinkback issue; and (4) Shoals had understated its cost
of revenue by millions of dollars. As a result, defendants'
positive statements about the Company's financial guidance,
business, operations, and prospects were materially false and
misleading and/or lacked a reasonable basis at all relevant
times.
DEADLINE: May 21, 2024
Shareholders should not delay in registering for this class action.
Register your information here:
https://securitiesclasslaw.com/securities/shoals-technologies-loss-submission-form/?id=80716&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a
shareholder who purchased shares of SHLS during the timeframe
listed above, you will be enrolled in a portfolio monitoring
software to provide you with status updates throughout the
lifecycle of the case. The deadline to seek to be a lead plaintiff
is May 21, 2024. There is no cost or
obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally
recognized class action law firm, and our mission is to protect the
rights of all investors who have suffered as a result of deceit,
fraud, and illegal business practices. The Gross Law
Firm is committed to ensuring that companies adhere to responsible
business practices and engage in good corporate citizenship. The
firm seeks recovery on behalf of investors who incurred losses when
false and/or misleading statements or the omission of material
information by a company lead to artificial inflation of the
company's stock. Attorney advertising. Prior results do not
guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
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SOURCE The Gross Law Firm
