According to the Complaint, Enviva, Inc. describes itself as a “growth-oriented company” and the “world’s largest producer of wood pellets" and purports to use its wood pellets to displace coal and other fossil fuels to generate power and heat as part of its efforts to accelerate the transition away from conventional energy sources.

The Complaint alleges that throughout the Class Period, Defendants misrepresented to investors facts concerning Enviva's operational improvements and the stability of its dividend, and that as a result, the market price of Enviva common stock was artificially inflated and/or maintained during the Class Period.

On February 13, 2024, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff voluntarily dismissed the claims against the Issuer Defendant on March 15.

On April 30, 2024, Lead Plaintiff filed an amended Complaint. Lead Plaintiff filed a second amended Complaint on August 2.