WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Eve Holding, Inc. (NYSE: EVEX, EVEXW) resulting from allegations that Eve may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased Eve securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=9607 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email email@example.com or firstname.lastname@example.org for information on the class action.
WHAT IS THIS ABOUT: In May 2022, Eve UAM, LLC and Zanite Acquisition Corp. completed a SPAC merger which resulted in Eve Holding, Inc. and the Company’s securities trading on the New York Stock Exchange under the ticker symbols EVEX and EVEXW.
Then, on September 29, 2022, after trading hours, Eve announced that “[o]n September 23, 2022, the Audit Committee of the Board of Directors of the Company (the “Audit Committee”) … concluded that the Company’s condensed consolidated financial statements included in the Company’s Form 10-Q for the quarter ended June 30, 2022 should not be relied upon.” Further, Eve announced that it “currently estimates that the adjustments will have the effect of increasing net loss by approximately $87 million as a result of a non-cash expense, and increasing additional paid-in capital by the same amount, for the three months ended June 30, 2022.” Eve stated that it “reviewed its accounting for certain warrants to acquire an aggregate of 24,200,000 shares of common stock, that were issued and became exercisable at the closing on May 9, 2022 of the transactions contemplated by the Business Combination Agreement … and taking into account the technical accounting rules and interpretations regarding the accounting treatment of similar warrants, the Company expects to recognize certain non-cash expenses associated with the issuance of such warrants for the three months ended June 30, 2022.”
On this news, Eve’s stock fell $2.05 per share, or 20%, over the next two trading days to close at $7.89 per share on October 3, 2022.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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