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The Law Offices of Howard G. Smith Reminds Investors of August 10th Deadline in the Class Action Lawsuit Against Ormat Technologies, Inc. (ORA)

August 3, 2018

BENSALEM, Pa.--(BUSINESS WIRE)--Aug 2, 2018--Law Offices of Howard G. Smith reminds investors of the August 10, 2018 deadline to file a lead plaintiff motion in the class action 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.

Investors suffering losses on their Ormat investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.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.

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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to  howardsmith@howardsmithlaw.com, or visit our website at  www.howardsmithlaw.com.

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

View source version on businesswire.com:https://www.businesswire.com/news/home/20180802006059/en/

CONTACT: Law Offices of Howard G. Smith

Howard G. Smith, Esquire

215-638-4847

888-638-4847

howardsmith@howardsmithlaw.com

www.howardsmithlaw.com

KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL

SOURCE: Law Offices of Howard G. Smith

Copyright Business Wire 2018.

PUB: 08/02/2018 08:46 PM/DISC: 08/02/2018 08:46 PM

http://www.businesswire.com/news/home/20180802006059/en

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