According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that:
- NET Power was unlikely to complete Project Permian (NET Power’s efforts to develop its first utility-scale plant) on schedule, and the project was likely to be significantly more expensive than defendants had represented, because of, inter alia, supply chain issues and numerous site- and region-specific challenges;
- accordingly, defendants’ projections regarding the time and capital needed to complete Project Permian were unrealistic;
- the increased time and capital needed to complete Project Permian were likely to have a significant negative impact on New Power’s business and financial results; and
- as a result, defendants’ public statements were materially false and misleading at all relevant times.
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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