Morpheus Research exposes fraudulent business practices at Solaris Energy's Mobile Energy Rentals LLC

In the United States, a securities class action lawsuit has been initiated against Solaris Energy Infrastructure, Inc. (NYSE: SEI) on behalf of investors who purchased Solaris securities from July 9, 2024, through March 17, 2025. The lawsuit, filed by Berger Montague PC, claims that important information about the company and its acquisition of Mobile Energy Rentals LLC (MER) was not disclosed to investors during the specified Class Period. Significant allegations include MER's lack of experience in mobile turbine leasing, absence of a diversified income stream, and ties to a convicted felon involved in turbine fraud. The acquisition of MER was completed on September 11, 2024, but the lawsuit alleges that investors were misled regarding the capabilities and financial health of MER. On March 17, 2025, a report published by Morpheus Research brought to light details that shocked investors, stating that MER was operating as a nearly $2.5 million revenue equipment leasing business without proper facilities and staff. This revelation led to a dramatic decline in Solaris' stock price, which plummeted by $4.15, or nearly 17%, closing at $20.46 per share the same day. The deadline for investors who acquired Solaris securities during the Class Period to seek appointment as lead plaintiffs is set for May 27, 2025. This lawsuit showcases the importance of integrity and transparency in the energy sector, especially for companies executing significant acquisitions that can impact investor confidence and market stability. Attorney Andrew Abramowitz from Berger Montague is actively involved in representing affected investors and highlighting the risks associated with unverified corporate practices.