SHAREHOLDER ACTION REMINDER: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Shoals

Key Facts

• Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Shoals Technologies Group, Inc. ("Shoals" or the "Company") (NASDAQ: SHLS) and reminds investors of the May 21, 2024 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
• Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In Shoals To Contact Him Directly To Discuss Their Options Faruqi & Faruqi Logo (PRNewsfoto/Faruqi & Faruqi, LLP) If you suffered losses exceeding $100,000 investing in Shoals stock or options between May 17, 2022 and November 7, 2023 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext.
• As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Shoals did not deliver 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.
• That day, Shoals filed its Quarterly Report on Form 10-Q for the third quarter of 2023 with the SEC and held an accompanying earnings call in which Defendants revealed that the wire shrinkback issue was far more severe than previously disclosed.

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