ATLANTA, GA – – (Globe Newswire – March 26, 2024) – – A shareholder class action lawsuit has been filed against Shoals Technologies Group, Inc. (“Shoals” or the “Company”) (NASDAQ: SHLS). The lawsuit alleges that Defendants made materially false and misleading statements and/or failed to disclose material adverse information regarding the Company’s business, operations, and prospects, including allegations that: (1) Shoals did not deliver electrical balance of system (“EBOS”) products that met the highest levels of quality and reliability; (2) Shoals had received reports of exposed copper conduit in EBOS wire harnesses in a large number of solar fields and was aware that a significant portion of its wire harnesses had defects; (3) Shoals would have to incur between $60 million to $185 million in costs to remediate the wire shrinkback issue; and (4) Shoals had understated its cost of revenue by millions of dollars.

If you bought Shoals shares May 17, 2022 and November 7, 2023, and suffered a significant loss on that investment, you are encouraged to discuss your legal rights by contacting Corey Holzer, Esq. at cholzer@holzerlaw.com, by toll-free telephone at (888)-508-6832 or, you may visit the firm’s website at www.holzerlaw.com/case/shoals/ to learn more.

The deadline to ask the court to be appointed lead plaintiff in the case is May 21, 2024.