Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Southern District of Texas on behalf of shareholders of Solaris Energy Infrastructure, Inc. who purchased shares between July 9, 2024 and March 17, 2025.
Solaris and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On July 9, 2024, the Company announced an agreement to acquire Mobile Energy Rentals LLC (“MER”), which was completed on September 11, 2024. The alleged false and misleading statements and omissions include, but are not limited to, that: (i) MER had little to no corporate history in the mobile turbine leasing space; (ii) MER did not have a diversified earnings stream; (iii) MER’s co-owner was a convicted felon associated with multiple allegations of turbine-related fraud; (4) as a result, the Company overstated the commercial prospects posed by the Acquisition; (5) the Company inflated profitability metrics by failing to properly depreciate its turbines; and (6) that, 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.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until May 27, 2025 to request that the court appoint them lead plaintiff.