June 15 Deadline for Lead Plaintiff Applications in Babcock & Wilcox Securities Class Action

According to Benzinga. The reminder concerns a federal securities class action lawsuit filed on behalf of shareholders who purchased shares between November 5, 2025, and March 11, 2026, inclusive. Investors have until June 15, 2026, to apply to the court to be appointed as lead plaintiff in the lawsuit.

Babcock & Wilcox Enterprises, Inc. trades under the ticker NYSE: BW. The lawsuit stems from a March 12, 2026, report by Wolfpack Research. 05 per share on March 12, 2026.

Stood on both sides of the Power Generation Contract and had close ties to B&W's counterparty. It further alleges that Applied Digital did not need the products and services that B&W would purportedly supply pursuant to the Power Generation LNTP and Contract.

According to the complaint, these issues would raise questions about the parties' actual intent behind entering into the Power Generation LNTP and Contract, including whether B&W is likely to recognize revenues from these agreements.

The complaint alleges that B&W's business prospects were overstated and that public statements were materially false and misleading during the class period. Wolfpack Research's report on March 12, 2026, alleged that B&W had failed to disclose the close relationship between its largest shareholder, BRC, and Base Electron, B&W's counterparty to the Power Generation Contract.

Wolfpack Research alleged that Base Electron's directors included BRC Co-CEO and Chairman Riley. It further alleged that Base Electron's registered address matched that of BRC's headquarters, not Applied Digital's.

The report alleged that the ultimate purpose of this deal may be to provide exit liquidity for BRC. Wolf Haldenstein Adler Freeman & Herz LLP was founded in 1888. The firm has over 125 years of legal expertise in securities litigation.