Market Overview

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

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.

Follow us for updates on Twitter:

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,
or visit our website at
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.

View Comments and Join the Discussion!