SAN DIEGO, April 15, 2026 (GLOBE NEWSWIRE) -- Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Babcock & Wilcox Enterprises, Inc. (NYSE: BW, BWNB, BW PRA) securities between November 5, 2025 and March 11, 2026, inclusive (the “Class Period”), have until June 15, 2026 to seek appointment as lead plaintiff of the Babcock & Wilcox class action lawsuit. Captioned Cho v. Babcock & Wilcox Enterprises, Inc., No. 26-cv-00886 (N.D. Ohio), the Babcock & Wilcox class action lawsuit charges Babcock & Wilcox and certain of Babcock & Wilcox’ top executives with violations of the Securities Exchange Act of 1934.
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CASE ALLEGATIONS: Babcock & Wilcox, together with its subsidiaries, provides energy and emissions control solutions to industrial, electrical utility, municipal, and other customers. According to the complaint, on November 4, 2025, Babcock & Wilcox announced its entry into an agreement for a limited notice to proceed for a project to deliver power (the “Power Generation LNTP”) for an artificial intelligence factory owned and operated by Applied Digital Corporation. On March 4, 2026, Babcock & Wilcox announced it had “received full notice to proceed on a $2.4 billion design-build agreement with Base Electron, an independent power producer (“IPP”) backed by Applied Digital . . . to deliver project 1.2 gigawatts (GW) of new generation capacity” (the “Power Generation Contract”), the complaint alleges.
The Babcock & Wilcox class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Babcock & Wilcox’s largest shareholder, BRC Group Holdings, Inc. (“BRC”), stood on both sides of the Power Generation Contract and had close ties to Babcock & Wilcox’s counterparty; (ii) Applied Digital Corporation did not need the products and services that Babcock & Wilcox would purportedly supply pursuant to the Power Generation LNTP and Contract; (iii) the foregoing, at the very least, would raise questions about the parties’ actual intent behind entering into the Power Generation LNTP and Contract, including whether Babcock & Wilcox is likely to recognize revenues from these agreements; and (iv) accordingly, the business and financial prospects of Babcock & Wilcox were overstated.
The Babcock & Wilcox class action lawsuit further alleges that on March 12, 2026, Wolfpack Research published a short report alleging that Babcock & Wilcox had failed to disclose the close relationship between its largest shareholder, BRC, and Base Electron, Babcock & Wilcox’s counterparty to the Power Generation Contract. Base Electron’s directors included BRC Co-CEO and Chairman Riley, and Base Electron’s registered address matched that of BRC’s headquarters, not Applied Digital’s. Moreover, Wolfpack Research alleged that Applied Digital did not need the products and services that Babcock & Wilcox would purportedly provide pursuant to the Power Generation Contract, and that “the ultimate purpose of this deal may be to provide exit liquidity for [BRC],” the complaint alleges. On this news, the price of Babcock & Wilcox stock fell more than 11%, according to the complaint.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Babcock & Wilcox securities during the Class Period to seek appointment as lead plaintiff in the Babcock & Wilcox class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Babcock & Wilcox class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Babcock & Wilcox class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Babcock & Wilcox class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud and shareholder rights litigation. Our Firm ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report, recovering more than $916 million for investors in 2025. This marks our fourth #1 ranking in the past five years. And in those five years alone, Robbins Geller recovered $8.4 billion for investors – $3.4 billion more than any other law firm. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world, and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:
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Contact:
Robbins Geller Rudman & Dowd LLP
Ken Dolitsky
Michael Albert
655 W. Broadway, Suite 1900, San Diego, CA 92101
800-449-4900
info@rgrdlaw.com
