SAN DIEGO, March 22, 2024 (GLOBE NEWSWIRE) -- Robbins LLP informs investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired Shoals Technologies Group, Inc. (NASDAQ:SHLS) common stock between May 17, 2022 and November 7, 2023. Shoals purports to be a leading provider of electrical balance of system ("EBOS") products for solar power generation, battery storage, and electric vehicle charging infrastructure.
For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.
The Allegations: Robbins LLP is Investigating the Allegations that Shoals Technologies Group, Inc. (SHLS) Delivered Defective Products
According to the complaint, during the class period, 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 harnesses 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 the wire shrinkback issue; and (4) Shoals had understated its cost of ...