SMR INVESTOR NOTICE: Robbins Geller Rudman & Dowd LLP Announces that NuScale Power Corporation Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit
News provided byRobbins Geller Rudman & Dowd LLP
Nov 20, 2023, 7:55 AM ET
SAN DIEGO, Nov. 20, 2023 (GLOBE NEWSWIRE) -- The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of NuScale Power Corporation (NYSE: SMR) securities between March 15, 2023 and November 8, 2023, both dates inclusive (the “Class Period”), have until January 16, 2024 to seek appointment as lead plaintiff of the NuScale class action lawsuit. Captioned Sigman v. NuScale Power Corporation, No. 23-cv-01689 (D. Or.), the NuScale class action lawsuit charges NuScale and certain of its top current and former executive officers with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the NuScale class action lawsuit, please provide your information here:
CASE ALLEGATIONS: NuScale is a nuclear power company that develops small modular reactor technology.
The NuScale class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) because of the effect of inflationary pressures on the cost of construction and power, NuScale and the Utah Associated Municipal Power Systems (“UAMPS”) would be unable to sign up enough subscribers to fulfill their Carbon Free Power Project (“CFPP”) contract; and (ii) Standard Power did not have the financial ability to support its agreement with NuScale.
The NuScale class action lawsuit further alleges that on October 19, 2023, Iceberg Research issued a research report that contradicted NuScale’s claims that it could fulfill the CFPP contract with UAMPS as well as NuScale’s contract with Standard Power. The NuScale class action lawsuit alleges that on this news, the price of NuScale stock fell more than 25% over two trading session.
The NuScale class action lawsuit additionally alleges that on November 8, 2023, NuScale and UAMPS announced that they had mutually agreed to terminate the CFPP contract because they had failed to engage enough subscribers. The NuScale class action lawsuit alleges that on this news, the price of NuScale stock fell nearly 33%.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired NuScale securities during the Class Period to seek appointment as lead plaintiff of the NuScale class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the NuScale class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the NuScale class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the NuScale class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases. The Firm is ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report for recovering more than $1.75 billion for investors in 2022 – the third year in a row Robbins Geller tops the list. And in those three years alone, Robbins Geller recovered nearly $5.3 billion for investors, more than double the amount recovered by any other plaintiffs’ firm. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:
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Robbins Geller Rudman & Dowd LLP
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