Ronald J. Tenpas of Vinson & Elkins has entered an appearance for Enviva, a major U.S. biomass company, and its top officials in a pending shareholder derivative lawsuit. The complaint, filed Dec. 15 in Maryland District Court by the Rosen Law Firm and the Law Office of Cynthia Leppert on behalf of Darryl Williston, accuses the defendants of misrepresenting the environmental sustainability of the company's wood pellet production and procurement. The complaint further contends that the company had overstated the true measure of cash flow generated by its platform and misrepresented its business model and ability to achieve the level of growth that the defendants had represented to investors. The case, assigned to U.S. District Judge Paula Xinis, is 8:23-cv-03403, Williston v. Alexander et al.
Renewable Energy
February 07, 2024, 8:14 AM