Faruqi & Faruqi Urges NET Power Investors to Act by Upcoming Class Action Deadline

Faruq & Faruqi Reminds NET Power Investors of Class Action

Faruqi & Faruqi, LLP, a prominent national securities law firm, is actively reminding shareholders of NET Power Inc. about the ongoing investigation related to potential claims against the company. This second reminder underlines the urgency for investors who faced significant losses to consider joining a pending class-action lawsuit. The deadline for aspiring lead plaintiffs is set for June 17, 2025.

The Allegations Against NET Power

The allegations stem from claims that NET Power and its executives have breached federal securities laws. The basis for the class action involves accusations of providing false or misleading statements regarding the completion timetable and budget for the ambitious Project Permian. Specifically, it has been alleged that:

1. Delay in Project Completion: NET Power had hinted that Project Permian would not reach operational status as initially projected. The company has since communicated that due to various challenges, including supply chain disruptions, initial power generation can now only be expected between late 2027 and early 2028, a noticeable delay from the previous 2026 target.
2. Increased Cost Estimates: The projected costs for Project Permian were revised significantly upwards, now estimated to be between $1.7 billion and $2.0 billion, contrasting sharply with earlier projections of around $1.1 billion. The reasons for this escalation involve unique challenges associated with the project's site and the initial pioneering processes that could lead to unexpected expenditures.
3. Market Impact: These revelations have had a grave impact on NET Power's stock performance. Following announcements that included news of delays and budget overruns, the company's stock price dropped sharply. For instance, after the third-quarter results were made public, the stock fell by over 18%, leading to a significant adverse reaction in the market.

The Role of Lead Plaintiff

In a class-action context, the lead plaintiff serves as a representative for others affected by the same issues, guiding the litigation on behalf of the class. Individuals who suffered losses exceeding $50,000 between June 9, 2023, and March 7, 2025, are encouraged to speak to legal advisors regarding their right to pursue claims. Additionally, the firm emphasizes that being a lead plaintiff does not preclude others from participating in any potential settlement.

How to Get Involved

Faruqi & Faruqi, LLP is actively encouraging affected shareholders to take action by reaching out directly via the numbers provided or by visiting their website for more information on the class action against NET Power. Investors are urged to share any vital information they may have, including cases brought forward by whistleblowers, past employees, or anyone with insights into the company's operational challenges.

In conclusion, as the deadline approaches, it is pivotal for investors engaged with NET Power to seek legal counsel and explore their options regarding the ongoing litigation. Participation in this class action could hold the company accountable for its alleged misrepresentations, potentially leading to significant recovery for those impacted.

For inquiries regarding your specific case or to learn more about how you can join the class action, please contact Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or visit Faruqi Law's website for additional resources and updates.