Shoals Technologies Group Inc. and its top executives hid issues with solar energy infrastructure parts the company manufactured for more than a year, touting quality and reliability until wire insulation problems and more than $50 million in related warranty expenses were disclosed to investors, a proposed shareholder class action says.
Two days after Shoals revealed that it expected the wire “shrinkback” issue on its solar components would cost between $59 million and $184 million to remedy, the company’s stock had fallen more than 20% to close at $12.95 on Nov. 9, 2023, according to the suit filed in US District …
This post was originally published on 3rd party site mentioned in the title of this site
