Faruqi & Faruqi Initiates Investigation for NET Power Investors Ahead of Class Action Deadline

Investigation Into NET Power: A Call to Affected Investors

Faruqi & Faruqi, LLP, a prominent national law firm specializing in securities lawsuit cases, is actively investigating potential claims on behalf of investors of NET Power, Inc. This inquiry comes following significant concerns raised regarding misleading statements made by the company and its executives that may have violated federal securities laws. Investors who acquired NET Power securities between June 9, 2023, and March 7, 2025, are encouraged to come forward as the deadline to seek a lead plaintiff role in the subsequent class action is looming, set for June 17, 2025.

The Circumstances Surrounding NET Power

According to recent disclosures, allegations against NET Power include failures to reveal crucial information pertaining to Project Permian. The company initially touted ambitious timelines and cost estimates but later acknowledged substantial delays and escalating costs attributable to various supply chain issues and specific site challenges. As a result, projections for the completion of Project Permian have deteriorated significantly.

On November 14, 2023, in a pre-market press release, NET Power revealed that it expected delays and increased expenses associated with Project Permian, pushing initial power generation expectations to between late 2027 and early 2028. Such a delay from a previously anticipated operational date of 2026 led to a notable drop in stock price, falling over 18% in a single day.

Further compounding these issues, on March 10, 2025, NET Power publicly revised its total project costs from an earlier estimate of $1.1 billion to a staggering projection of between $1.7 billion and $2.0 billion. This announcement not only revealed the financial strain but also revised the online date for the project to no earlier than 2029, resulting in a 31.46% decline in share price the following day.

Subsequently, the company faced internal upheaval with the announcements of executive departures, leading to further declines in share valuation. Investors are now grappling with the ramifications of these disclosures, questioning the leadership and management integrity of NET Power.

Your Rights as an Investor

Faruqi & Faruqi is committed to supporting investors in their pursuit of justice and compensation for potential losses incurred as a result of NET Power's actions. If you believe you've suffered from misleading information or financial loss related to your investment in NET Power, the firm is inviting you to get in touch.

Josh Wilson, a partner at Faruqi & Faruqi, emphasizes the importance of collective action among investors impacted by NET Power's alleged misconduct. Investors can reach out to discuss their legal rights directly with Wilson, who can provide detailed insights into the available options. The firm not only represents the interests of investors but also encourages anyone with further information regarding NET Power's conduct to come forward, assuring confidentiality for whistleblowers and concerned parties alike.

Next Steps for Concerned Investors

For those interested in pursuing further information or possibly joining the class action suit, visiting Faruqi's dedicated NET Power page can provide essential resources. You may also opt to call their office directly at (877) 247-4292 or (212) 983-9330. The firm also maintains an active presence on LinkedIn, X, and Facebook, where investors can follow updates.

In summary, as the deadline approaches, it is vital for investors to take action to protect their interests and contribute to the potential recovery efforts against NET Power. Faruqi & Faruqi is here to guide and support affected investors during this critical juncture.