{"id":451485,"date":"2021-03-04T18:02:14","date_gmt":"2021-03-04T23:02:14","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=451485"},"modified":"2021-03-04T18:02:14","modified_gmt":"2021-03-04T23:02:14","slug":"the-law-offices-of-frank-r-cruz-continues-its-investigation-of-ormat-technologies-inc-ora-on-behalf-of-investors","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/the-law-offices-of-frank-r-cruz-continues-its-investigation-of-ormat-technologies-inc-ora-on-behalf-of-investors\/","title":{"rendered":"The Law Offices of Frank R. Cruz Continues Its Investigation of Ormat Technologies, Inc. (ORA) on Behalf of Investors"},"content":{"rendered":"

<\/p>\n

The Law Offices of Frank R. Cruz Continues Its Investigation of Ormat Technologies, Inc. (ORA) on Behalf of Investors<\/b><\/p>\n

LOS ANGELES–(BUSINESS WIRE<\/a>)–The Law Offices of Frank R. Cruz<\/a> continues its investigation of Ormat Technologies, Inc. (\u201cOrmat\u201d or the \u201cCompany\u201d) (NYSE: ORA<\/a>) on behalf of investors concerning the Company\u2019s possible violations of federal securities laws.\n<\/p>\n

\nIf you are a shareholder who suffered a loss, click here<\/a> to participate.\n<\/p>\n

\nOn March 1, 2021, before the market opened, Hindenburg Research published a report entitled \u201cOrmat: Dirty Dealings in \u2018Clean\u2019 Energy.\u201d According to the report, the Company \u201chas engaged in what we believe to be widespread and systematic acts of intentional corruption,\u201d adding that it \u201cexpect[s] the blowback to these revelations to be severe, threatening Ormat\u2019s contracts in its most lucrative markets.\u201d The report alleges that Hindenburg \u201cuncovered evidence tying Ormat to corruption with senior government officials,\u201d and \u201cdirect evidence tying Ormat to corruption with senior Guatemalan government officials\u201d further noting \u201cOrmat paid contractors in Kenya tied to corrupt government officials.\u201d\n<\/p>\n

\nOn this news, Ormat\u2019s stock price fell $1.00, or 1.1%, to close at $84.67 per share on March 1, 2021, thereby injuring investors.\n<\/p>\n

\nThe same day, after the market closed, Ormat responded to the report and acknowledged that \u201c[t]he Company is aware of claims being investigated in Israel regarding Ravit Barniv, an Ormat Board member, and Hezi Kattan, the Company\u2019s General Counsel and Chief Compliance Officer.\u201d Though the \u201cclaims involve Ms. Barniv\u2019s and Mr. Kattan\u2019s work at another company, prior to joining Ormat,\u201d the Company announced that it would \u201ctransfer the responsibility for the Company\u2019s compliance function to other members of the Ormat management team until these issues are resolved.\u201d\n<\/p>\n

\nOn this news, Ormat\u2019s stock price fell $1.68, or nearly 2%, to close at $82.99 per share on March 2, 2021, thereby injuring investors further.\n<\/p>\n

\nFollow us for updates on Twitter: twitter.com\/FRC_LAW<\/a>.\n<\/p>\n

\nIf you purchased Ormat securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com<\/a>, or visit our website at www.frankcruzlaw.com<\/a>. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.\n<\/p>\n

\nThis press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210304006158\/en\/<\/a><\/span><\/p>\n

\nThe Law Offices of Frank R. Cruz, Los Angeles
\n
Frank R. Cruz, 310-914-5007
\n
fcruz@frankcruzlaw.com
\n<\/a>
www.frankcruzlaw.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America California<\/p>\n

INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

The Law Offices of Frank R. Cruz Continues Its Investigation of Ormat Technologies, Inc. (ORA) on Behalf of Investors LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz continues its investigation of Ormat Technologies, Inc. (\u201cOrmat\u201d or the \u201cCompany\u201d) (NYSE: ORA) on behalf of investors concerning the Company\u2019s possible violations of federal securities laws. If you are a shareholder who suffered a loss, click here to participate. On March 1, 2021, before the market opened, Hindenburg Research published a report entitled \u201cOrmat: Dirty Dealings in \u2018Clean\u2019 Energy.\u201d According to the report, the Company \u201chas engaged in what we believe to be widespread and systematic acts of intentional corruption,\u201d adding that it \u201cexpect[s] the blowback to these revelations to be severe, … <\/p>\n

Continue reading “The Law Offices of Frank R. Cruz Continues Its Investigation of Ormat Technologies, Inc. (ORA) on Behalf of Investors”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-451485","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nThe Law Offices of Frank R. Cruz Continues Its Investigation of Ormat Technologies, Inc. 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(\u201cOrmat\u201d or the \u201cCompany\u201d) (NYSE: ORA) on behalf of investors concerning the Company\u2019s possible violations of federal securities laws. If you are a shareholder who suffered a loss, click here to participate. On March 1, 2021, before the market opened, Hindenburg Research published a report entitled \u201cOrmat: Dirty Dealings in \u2018Clean\u2019 Energy.\u201d According to the report, the Company \u201chas engaged in what we believe to be widespread and systematic acts of intentional corruption,\u201d adding that it \u201cexpect[s] the blowback to these revelations to be severe, … Continue reading "The Law Offices of Frank R. Cruz Continues Its Investigation of Ormat Technologies, Inc. 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