Glancy Prongay & Murray LLP Announces the Filing of a Securities Class Action on Behalf of Ormat Technologies, Inc.
Investors (ORA)
National securities litigation law firm Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of
investors that purchased Ormat Technologies, Inc. (“Ormat” or the “Company”) (NYSE: ORA) securities between August 8, 2017 and May 15, 2018, inclusive (the “Class
Period”). Ormat investors have until August 10, 2018 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to participate.
Investors that suffered losses on their Ormat investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal
rights in this class action at 310-201-9150 or by email to shareholders@glancylaw.com.
According to the lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to
disclose that: (1) there were errors in the income tax provision primarily relating to Ormat's valuation allowance based on its
ability to utilize foreign tax credits in the U.S. prior to their expiration; (2) Ormat netted certain deferred income tax assets
and deferred income tax liabilities across different tax jurisdictions that are not permitted to be netted pursuant to United
States generally accepted accounting principles; (3) Ormat's internal controls over financial reporting were ineffective; (4)
Ormat would need to restate its second, third and fourth quarter 2017 financial statements and its full-year 2017 financial
statements; and (5) as a result, defendants' statements about Ormat's business, operations and prospects were materially false and
misleading and/or lacked a reasonable bases at all relevant times.
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If you purchased shares of Ormat during the Class Period you may move the Court no later than August 10, 2018 to ask
the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain
counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this
action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please
contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150,
Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com,
or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of
shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Glancy Prongay and Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
www.glancylaw.com
shareholders@glancylaw.com
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