#USA #Robbins Geller #San Diego #Class Action #NET Power

Lead Class Action Lawsuit for NET Power Inc. Investors

Overview

The law firm Robbins Geller Rudman & Dowd LLP has made a crucial announcement for investors of NET Power Inc. (NYSE: NPWR). Those who purchased or acquired NET Power's securities during the period from June 9, 2023, to March 7, 2025, may have the chance to lead a class action lawsuit against the company. This a pivotal moment for affected investors with substantial losses, as they can step forward and be at the forefront of the litigation process.

Class Action Details

The class action, filed under the case name Luciani v. NET Power Inc. (No. 25-cv-00296), alleges that NET Power and certain executives have violated the Securities Exchange Act of 1934. This groundbreaking case has caught the attention of many after allegations indicating misleading statements and failures to disclose pertinent information regarding the company's critical Project Permian.

Background of NET Power

NET Power operates within the energy technology sector, focusing on gas turbine technology aimed at transforming the natural gas power industry. The company’s flagship initiative, Project Permian, located in La Porte, Texas, is designed to be a utility-scale plant. However, allegations claim that executives misrepresented project timelines and budgets to investors during the specified class period.

Allegations Against NET Power

According to the filed complaint, several issues plagued the company’s communication with investors:
1. Delays in Project Permian: Executives allegedly failed to inform investors that the project was unlikely to be completed on schedule and that significant cost overruns were anticipated. This included not adequately addressing ongoing supply chain issues and site-specific challenges faced in Texas.
2. Unrealistic Projections: Statements made by NET Power regarding the expected capital and timeline required to complete the project were deemed unrealistic. It became evident that these initial projections did not align with the financial realities the company was facing as construction progressed.
3. Share Price Impact: As disclosures about project delays and budget overruns became public, NET Power's stock price reflected the negative sentiment, plummeting by over 18% following the announcement of a significant delay and again falling by 31% after revealing inflated cost estimates.

Steps to Join the Class Action

Investors who experienced a financial loss due to these circumstances have a set of actions to consider:

• - Act Promptly: Interested parties have until June 17, 2025, to express their desire to become the lead plaintiff in this class action case.
• - Contact the Law Firm: Investors should reach out to attorneys J.C. Sanchez or Jennifer N. Caringal at Robbins Geller to provide their information for consideration.
• - Understand Lead Plaintiff Role: The lead plaintiff will represent the interests of all class members and can select their legal representation, which is not contingent on serving as the lead plaintiff.

About Robbins Geller Rudman & Dowd LLP

Renowned for representing investors in securities fraud and shareholder litigation, Robbins Geller holds a prominent position in the legal industry, having secured billions in monetary relief for investors in its history. Their proven track record is bolstered by a dedicated team of over 200 lawyers placed strategically in 10 offices.

Conclusion

For investors in NET Power Inc. who have suffered financial losses, this class action lawsuit represents a vital opportunity to hold the company accountable and possibly recover losses. As data continues to unfold about the company's performance and disclosures, affected investors should stay vigilant and consider the avenues available to them during this tumultuous litigation period.