Pomerantz Appointed Lead Counsel in Enviva Securities Litigation

On January 31, 2023, U.S. District Judge Deborah K. Chasanow, of the District of Maryland, appointed Pomerantz LLP as Lead Counsel on behalf of Dustin Fanucchi – the Lead Plaintiff, and the class, in Fagen v. Enviva Inc., 22-cv-2844 (D. Md.). This securities class action alleges that Enviva Inc. misled the market regarding its business model, financial performance, and prospects for growth. Enviva is the world’s largest producer of utility-grade wood pellets that are used as a substitute for coal in power generation by industrial customers. Significantly, Enviva touts itself as a “growth-oriented” environmental, social, and governance (“ESG”) company with a “platform to generate stable and growing cash flows.” Allegations…