According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that:
- the impact of project delays on Nextracker’s business, financial results, and prospects was far more severe than represented to investors;
- permitting and interconnection delays had materially impaired Nextracker’s ability to convert backlog into revenue at historical conversion rates;
- Nextracker had been unable to offset the negative impact from project delays through increased client demand and the purported ability to pull forward its other projects in the manner represented by defendants;
- Nextracker did not possess the competitive advantages which purportedly shielded it from industry-wide headwinds or the ability to effectively offset the adverse effects of project delays as claimed by defendants; and
- as a result of the above, defendants lacked a reasonable basis for their positive statements about Nextracker’s business, financial results, and prospects.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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