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Allegations
The filed complaint alleges that enCore Energy Corp. made materially false and/or misleading statements and/or failed to disclose that: (1) enCore lacked effective internal controls over financial reporting; (2) enCore could not capitalize certain exploratory and development costs under GAAP; (3) as a result, its net losses had substantially increased; and (4) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.