SHLS - Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Shoals Technology Group Inc. (SHLS) | Benzinga

NEW YORK, March 25, 2024 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Middle District of Tennessee on behalf of all persons or entities who purchased or otherwise acquired Shoals Technology Group, Inc. ("Shoals" or the "Company") (NYSE:SHLS) securities between May 17, 2022 and November 7, 2023, inclusive (the "Class Period"). The lawsuit seeks to recover damages for the Company's investors under the federal securities laws.

The Complaint alleges that Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, the Complaint alleges that the Defendants failed to disclose to investors that: (1) Shoals did not deliver EBOS products that met the highest levels of quality and reliability; (2) Shoals had received reports of exposed copper conduit in EBOS wire harnessess in a large number of solar fields and was aware that a significant portion of its wire harnesses had defects; (3) Shoals would have to incur between $60 million to $185 million in costs to remediate ...

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