Enviva Inc. investors adequately alleged that several statements about contract terms and manufacturing were misleading in their proposed class action over the now-bankrupt energy company’s decline, a federal court in Maryland ruled.
Judge Matthew J. Maddox trimmed other targeted statements from the complaint against five former executives—three successive CEOs, the chief financial officer, and the chief accounting officer. Ex-CEO Thomas Meth and ex-CFO Shai Even will continue to face claims under the ruling, which was issued Monday in the US District Court for the District of Maryland.
Bethesda, Md.-based Enviva produced wood pellets for utilities in Europe and Asia and ...