Before the market opened on March 1, 2021, a report was published by Hindenburg Research entitled “Ormat: Dirty Dealings in ‘Clean’ Energy.” According to the Ormat “has engaged in what we believe to be widespread and systematic acts of intentional corruption,” and that it “expect[s] the blowback to these revelations to be severe, threatening Ormat’s contracts in its most lucrative markets.” It is alleged in this report that Hidenburg “uncovered evidence tying Ormat to corruption with senior government officials,” and “direct evidence tying Ormat to corruption with senior Guatemalan government officials” further noting “Ormat paid contractors in Kenya tied to corrupt government officials.”
On March 21, 2021, Ormat’s stock price fell $1.00, or 1.1%, on this news, to close at $84.67 per share ,thereby injuring investors.
Ormat Technologies, Inc.
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to email@example.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at firstname.lastname@example.org.
If you choose to take no action, you can remain an absent class member.
Joining the case through the Portnoy Law website enables investors to learn about their legal claims and take an active role in recovering their losses.
The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
1800 Century Park East, Suite 600
Los Angeles, CA 90067