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herein to be misleading prior to, or shortly after, their issuance and had the ability and opportunity to prevent their issuance or cause them to be corrected. Because of their positions and access to material non-public information available to them, each of these defendants knew that the adverse facts specified herein had not been disclosed to, and were being concealed from, the public, and that the positive representations which were being made were thus materially false and misleading. The Individual Defendants are liable for the false statements pleaded herein, as those statements were each "group-published" information, the result of the collective actions of the Individual Defendants. SUBSTANTIVE ALLEGATIONS Background 24. Ormat is a vertically integrated company engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal recovered energy-based power plants. Ormat conducts its business activities in two business segments: Electricity and Products. In the Electricity Segment, the Company develops, builds, owns and operates geothermal and recovered energy-based power plants in the United States and geothermal power plants in other countries around the world, and sells the electricity generated by these plants. In the Products Segment, Ormat designs, manufactures and sells equipment for geothermal and recovered energy-based electricity generation, remote power units and other power generating units, and provides services relating to the engineering, procurement, construction, operation and maintenance of geothermal and recovered energy power plants. Materially False and Misleading Statements Issued During the Class Period 25. On May 6, 2008, after the market’s close, the Company issued a press release entitled "Ormat Technologies, Inc. Reports First Quarter 2008 Results." Therein, the Company 6PDF Image | ORMAT TECHNOLOGIES Lawsuit
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