LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Ormat Technologies, Inc. (“Ormat” or “the Company”) (NYSE: ORA) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Ormat is the subject of a report published by Hindenburg Research on March 1, 2021, titled, “Ormat: Dirty Dealings in 'Clean' Energy.” According to the report, the Company "has engaged in what we believe to be widespread and systematic acts of intentional corruption." Hindenburg adds that it "expect[s] the blowback to these revelations to be severe, threatening Ormat's contracts in its most lucrative markets." The report alleges that Hindenburg "uncovered evidence tying Ormat to corruption with senior government officials," and states that there is "direct evidence tying Ormat to corruption with senior Guatemalan government officials" and that "Ormat paid contractors in Kenya tied to corrupt government officials."
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