Evolution Faces Class Action Lawsuit Over Revenue Concerns

Investors in Evolution AB (publ) face a class action lawsuit in the United States District Court for the Eastern District of Pennsylvania. The lawsuit alleges that Evolution's revenue from the RNG segment of its business did not grow, and its North American business segment had a low growth rate. The news of potential regulatory clampdowns and exposure to revenues from illegal gambling activities caused a significant drop in Evolution's ADS price. Investors have until March 25, 2024, to apply to the Court to be appointed as lead plaintiff in the lawsuit.