Pomerantz LLP Announces Class Action Against Solaris Energy Inc.
Editorial StaffThe Facts -
- Pomerantz LLP filed a class action lawsuit against Solaris Energy.
- The lawsuit alleges securities fraud linked to a questionable acquisition.
- SEI’s stock fell 16.86% after allegations from Morpheus Research emerged.
An impending legal battle unfolds as Pomerantz LLP announces the initiation of a class action lawsuit targeting Solaris Energy Infrastructure, Inc. (NYSE: SEI). Investors are urged to reach out to Danielle Peyton via newaction@pomlaw.com or call 646-581-9980, toll-free at 888.4-POMLAW, ext. 7980. When contacting via email, including contact details and the number of shares purchased could expedite responses.
The suit questions whether SEI's executives engaged in securities fraud or other illicit practices. Individuals who acquired SEI securities during the Class Period have until May 27, 2025, to petition the Court to be named Lead Plaintiff. A detailed Complaint is accessible at www.pomerantzlaw.com.
Solaris disclosed an acquisition of Mobile Energy Rentals LLC (MER) on July 9, 2024. However, Morpheus Research's report on March 17, 2025, cast doubt, highlighting MER as a “$2.5 million revenue equipment leasing business... with no employees or turbines.” Additionally, John Tuma, a co-owner, was identified as a “convicted felon” involved in “an $800 million gas turbine scandal.” The report indicated that MER was primarily a small rental business until early 2024 when a transformation coincided with its acquisition by Solaris, financed by $71 million in debt. Contrary to public claims, 96% of MER's revenue was derived from a single customer.
Following these revelations, SEI's stock price dropped $4.15 per share, closing at $20.46, marking a 16.86% decline on March 17, 2025.
Pomerantz LLP, established by the late Abraham L. Pomerantz, is renowned for its prowess in class action litigation. With offices worldwide, the firm has secured numerous multimillion-dollar settlements for class members and is recognized for defending against securities fraud and corporate malfeasance. More details are available at www.pomlaw.com.
For further inquiries, contact:
CONTACT:
Danielle Peyton
Pomerantz LLP
646-581-9980 ext. 7980
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