BOSTON, Oct. 12, 2022 (GLOBE NEWSWIRE) — Block & Leviton is investigating Enviva, Inc. (NYSE: EVA) for possible securities law violations. Investors who have lost money investing in Enviva, Inc. should do so contact the company to learn more about how to make up for those losses. For more information, see https://www.blockleviton.com/cases/eva.

Why is?

On October 12, 2022, Blue Orca Capital issued a brief report alleging that rumored ESG wood pellet manufacturer Enviva, Inc. is “blatantly greenwashing its wood sourcing.”

According to the report, Enviva claims to be an ESG company when it instead relies on a carbon accounting loophole that “subsidizes European energy companies to replace coal with wood pellets derived from deforestation in the United States.” Using GPS data to geolocate Enviva’s crops, Blue Orca found satellite images of deforested forest, a controversial practice that involves removing entire forest swaths. Clear-cutting is a widely condemned practice by both ESG investors and climate change advocates.

Other allegations in the brief include that the company overstates the sustainability of crops, depleting hardwood forest cover around the company’s assets, inflating profit margins by providing logging equipment in exchange for reduced prices, and overpaying on related party transactions.

Enviva, Inc. shares fell more than 8% in intraday trade on October 12, 2022.

Who is Eligible?

Anyone who has bought Enviva, Inc. stock and lost money may be eligible, whether or not they have sold their investment. Investors should contact Block & Leviton for more information.

What does Block & Leviton do?

Block & Leviton is investigating whether the company has violated securities laws and may file a lawsuit to try to recover losses on behalf of investors who have lost money.

What should you do next?

If you lost money…