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Published April 24, 2025
enCore Energy hit rock bottom when it revealed a sixty-three million loss and material weaknesses in its internal controls. Furious investors ditched their enCore shares, crashing the Company’s stock price crashing by 46%. Now, investors are fighting back with a class action.
enCore is a uranium energy company. Throughout 2024, it filed SEC papers reassuring investors that it maintained proper financial controls. The Company also filed quarterly updates showing its finances were nearly the same as in 2023.
Behind the scenes, enCore executives knew that was all a lie, according to the Complaint.
Investors learned the bitter truth in March 2025, when enCore announced it suffered a $63 million loss in 2024 – more than double its loss from 2023. The news got worse – the Company also revealed it had material weaknesses in its internal controls and the company knew about it throughout 2024 but didn’t tell investors.
Irate investors quickly dumped their shares, sending enCore’s stock price into freefall. Some of those investors are now joining the lawsuit.