Faruqi & Faruqi, LLP Investigates Claims for NET Power Investors Amid Significant Delays

Deadline Alert: Faruqi & Faruqi, LLP Investigates NET Power

Faruqi & Faruqi, LLP, a renowned national securities law firm, has opened an investigation into possible legal claims on behalf of investors of NET Power Inc. This inquiry comes in response to alarming news indicating that the company's flagship project, Project Permian, is facing delays and cost overruns, which have severely affected investor confidence.

Background on NET Power

NET Power, listed on the NYSE under the ticker symbol NPWR, has been a focal point in discussions surrounding innovative energy solutions. However, recent disclosures from the firm paint a troubling picture. On November 14, 2023, the company revealed that due to significant supply chain issues, it needed to adjust its timeline for Project Permian. The project, which was initially anticipated to begin power generation by 2026, is now projected to come online no earlier than 2029, marking a significant delay.

According to their press release, the company now estimates that the total cost for Project Permian will be between $1.7 billion and $2.0 billion. This is notably up from their previous estimate of $1.1 billion and includes numerous site-specific challenges that have proven more complicated than originally anticipated. As a result, NET Power's executives faced accusations of providing misleading statements regarding the project's viability.

Impact on Investors

Faruqi & Faruqi, LLP is specifically encouraging investors who have incurred losses surpassing $50,000 from NET Power's stock between June 9, 2023, and March 7, 2025, to come forward. Investors are urged to contact securities litigation partner Josh Wilson directly to discuss potential options and investigate their claims further. The law firm has emphasized the importance of acting swiftly, as there is a deadline of June 17, 2025, to seek the position of lead plaintiff in the federal securities class action against NET Power.

Following the critical announcements, the stock of NET Power experienced dramatic declines. On November 14, 2023, the stock fell by approximately 18.54%, dropping to $10.85 per share and causing panic among investors. A further plunge occurred on March 10, 2025, when reports revealed the increased cost estimates for Project Permian, resulting in a staggering drop of 31.46%, with shares closing at $4.75 per share.

Moreover, on April 15, 2025, the company faced more instability as it announced the abrupt departure of its President and COO, as well as its CFO, just one month following the significant financial disclosures. This leadership shake-up led to further erosion of investor trust, pushing the stock price down yet again by 5.75%.

Next Steps for Investors

Faruqi & Faruqi advises that all affected investors familiarize themselves with their rights and the details surrounding the class action. Notably, the lead plaintiff is determined by the individual with the most financial interest in the litigation, who also must meet specific criteria to represent the class adequately and typically.

The firm welcomes information from individuals with knowledge of NET Power's operations and performance, including whistleblowers, ex-employees, and shareholders. Confidentiality is guaranteed for all communications.

For more information about the ongoing investigation and how to participate, interested parties can visit Faruqi & Faruqi's dedicated page or contact Josh Wilson directly at (877) 247-4292 or (212) 983-9330 (Ext. 1310).

This situation illustrates the volatile nature of investments in innovative sectors, highlighting the need for due diligence and transparency from companies that impact public investors. As the investigation unfolds, Faruqi & Faruqi remains committed to representing the interests of aggrieved investors in this matter, ensuring that those impacted by NET Power's recent setbacks have recourse to seek justice and recover their losses.