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ENSERVCO CORPORATION CLASS ACTION ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the District of Colorado against Enservco Corporation

LEAD PLAINTIFF DEADLINE IS JULY 19, 2022

NEW YORK, May 25, 2022 (GLOBE NEWSWIRE) — Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the District of Colorado against Enservco Corporation (“Enservco” or the “Company”) ENSV. The class action is on behalf of a class consisting of all persons and entities that purchased or otherwise acquired Enservco securities between May 13, 2021 and April 18, 2022, both dates inclusive (the “Class Period”).

All investors who purchased the shares of Enservco Corporation and incurred losses are advised to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.

If you have incurred losses in Enservco Corporation you may, no later than July 19, 2022, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Enservco Corporation.

PLEASE CLICK HERE TO JOIN THE CASE  

On March 28, 2022, Enservco disclosed that it had “concluded that the Company’s previously issued condensed consolidated financial statements as of and for the quarters ended March 31, 2021, June 30, 2021 and September 30, 2021 should no longer be relied upon largely because of the Company’s accounting for a conversion of debt to equity with a related party.”

On this news, Enservco’s stock fell $0.45, or 12.3%, to close at $3.21 per share on March 28, 2022, thereby injuring investors.

Then, on March 31, 2022, the Company disclosed that it could not timely file its 2021 annual financial report because it was “in the process of restating [its] financial statements.”

On this news. Enservco’s stock fell $0.21, or 7.8%, to close at $2.49 per share on April 1, 2022, thereby injuring investors further.

Then, on April 4, 2022, Enservco announced that its Chief Financial Officer would be departing and would no longer be an executive officer or employee.

On this news, Enservco’s stock fell $0.19, or 7.5%, to close at $2.35 per share on April 5, 2022. Then, on April 18, 2022, the Company disclosed that it would not “be filing its Form 10-K for the fiscal year ended December 31, 2021 within the 15 day extension period provided by the Company’s 12b-25 filing” because it “intends to [again] amend its Quarterly Reports on Form 10-Q for the Relevant Periods to reflect restatements of its condensed consolidated financial statements for the Relevant Periods.”

On this news, Enservco’s stock fell $0.38, or 10.5%, to close at $3.25 per share on April 19, 2022.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at classmember@whafh.com

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, donovan@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.


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