Faruqi & Faruqi, LLP Investigates NET Power for Investors' Claims Losses

Investor Alert: Faruqi & Faruqi, LLP's Investigation of NET Power

Faruqi & Faruqi, LLP, a prominent national securities law firm, has initiated an investigation into potential claims related to NET Power Inc. (NYSE: NPWR). This investigation is specifically aimed at investors who incurred losses exceeding $50,000 in NET Power between June 9, 2023, and March 7, 2025. If you have suffered such losses, the firm encourages you to reach out to them for a discussion of your legal options.

In the context of this investigation, it's important for investors to be aware of the key deadlines. Notably, there is a crucial deadline on June 17, 2025, for those interested in taking on the role of lead plaintiff in a federal securities class action that has been filed against NET Power. The significance of becoming a lead plaintiff lies in the authority it gives an investor to lead the litigation process on behalf of all affected investors.

The allegations against NET Power suggest that the company and its executives may have violated federal securities laws. Specifically, the complaint outlines that misleading statements were made regarding Project Permian, a significant undertaking by the company. It has been alleged that Net Power was unlikely to complete this project on schedule and that the projected costs were significantly underestimated due to various challenges, including supply chain issues and specific site-related obstacles.

For instance, on November 14, 2023, NET Power released its third-quarter results, revealing that delays were expected due to global supply chain tightness. The update indicated a postponement in the project's timeline, shifting the start of initial power generation from the expected operational date in 2026 to a span between the second half of 2027 and the first half of 2028. This announcement led to a notable drop in NET Power's stock, which plummeted by $2.47 (18.54%), closing at $10.85 per share.

Then, on March 10, 2025, a follow-up announcement revealed the company's estimate for Project Permian's total installed cost had surged to between $1.7 billion and $2.0 billion—well above the previously projected $1.1 billion. Along with this cost reevaluation, the timeline for project completion pushed back to 2029, exacerbating investor concerns and leading to a staggering $2.18 drop, or 31.46%, in the stock price, bringing it down to $4.75 per share.

The situation worsened when, on April 15, 2025, NET Power disclosed the forthcoming departures of key executives, including the President and COO. This news further eroded investor confidence, with shares falling again to $2.13 per share on April 16, 2025.

Faruqi & Faruqi, LLP is dedicated to advocating for the rights of investors potentially impacted by these developments. The law firm, with a strong track record of recovering hundreds of millions of dollars for investors since its inception in 1995, suggests that any affected investors get in touch. They are particularly interested in hearing from whistleblowers or individuals with relevant information pertaining to NET Power's conduct.

For those seeking further information on the ongoing NET Power class action, please visit Faruqi & Faruqi's designated page or contact partner Josh Wilson at 877-247-4292 or 212-983-9330 (Ext. 1310). Keep in mind that all communications will be handled with confidentiality.

This is an important moment for those who believe they may have been wronged by NET Power's alleged actions. The forthcoming class action suit may provide an avenue for recovery, reaffirming the necessity for investors to be proactive in exploring their legal rights.