PHILADELPHIA, April 7, 2025 -- Berger Montague PC advises investors that a securities class action lawsuit has been filed against Solaris Energy Infrastructure, Inc. ("Solaris" or the "Company") (NYSE: SEI) on behalf of purchasers of Solaris securities between July 9, 2024 through March 17, 2025, inclusive (the "Class Period").
Investor Deadline: Investors who purchased or acquired Solaris securities during the Class Period may, no later than MAY 27, 2025, seek to be appointed as a lead plaintiff representative of the class. To learn your rights, CLICK HERE.
Headquartered in Houston, Solaris develops equipment used in the oil and gas industry. On July 9, 2024, Solaris announced that it has entered into an agreement to acquire Mobile Energy Rentals LLC ("MER"). Solaris completed the MER acquisition on September 11, 2024.
On March 17, 2025, investors learned the truth when Morpheus Research published a report alleging that MER had been "a ~$2.5 million revenue equipment leasing business based out of a condo with zero employees, no turbines, and no track record in the mobile turbine rental industry." The report revealed that one of MER's co-owners was a convicted felon who was involved in a "$800 million gas turbine scandal… that included allegations of bid rigging [and] corruption."
On this news, Solaris' stock price fell $4.15, or nearly 17%, to close at $20.46 per share on March 17, 2025.
To learn your rights or for more information, CLICK HERE or please contact Berger Montague: Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015, or Peter Hamner at phamner@bm.net.
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the Court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.
Berger Montague, with offices in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
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