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NEW YORK, Oct. 19, 2022 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Eve Holding, Inc. (""Eve" or the "Company") (NYSE: EVEX). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Eve and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On September 29, 2022, Eve disclosed in a filing with the U.S. Securities and Exchange commission that "in connection with the preparation of an amendment to a registration statement, [the Company] reviewed its accounting for certain warrants to acquire an aggregate of 24,200,000 shares of common stock, that were issued and became exercisable at the closing on May 9, 2022 of the transactions contemplated by the Business Combination Agreement, dated as of December 21, 2021, by and among the Company, Embraer S.A., Embraer Aircraft Holding, Inc. and EVE UAM, LLC (the 'Closing'). Based on such review and taking into account the technical accounting rules and interpretations regarding the accounting treatment of similar warrants, the Company expects to recognize certain non-cash expenses associated with the issuance of such warrants for the three months ended June 30, 2022." Accordingly, on September 23, 2022, the Company's Audit Committee "concluded that the Company's condensed consolidated financial statements included in the Company's Form 10-Q for the quarter ended June 30, 2022 . . . should not be relied upon." Eve further stated that it "currently estimates that the adjustments will have the effect of increasing net loss by approximately $87 million as a result of a non-cash expense and increasing additional paid-in capital by the same amount, for the three months ended June 30, 2022."
On this news, Eve's stock price fell $0.70 per share, or 7.04%, to close at $9.24 per share on September 30, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP