#USA #San Diego #Class Action #Robbins LLP #Nextracker Inc

Robbins LLP Alerts Investors on Nextracker Class Action

San Diego, January 9, 2025 – Robbins LLP has urged shareholders of Nextracker Inc. to be aware of a class action lawsuit filed on their behalf. The action concerns all individuals and entities that purchased or acquired Nextracker common stock from February 1, 2024, to August 1, 2024. Nextracker is known for developing innovative software and equipment that enables solar panels to adjust their position in accordance with the sun’s trajectory, enhancing energy capture and efficiency.

Background of the Class Action

The lawsuit highlights severe allegations against Nextracker regarding misleading representations about the company’s financial health. During the specified period, it is claimed that the company did not adequately disclose critical challenges it was facing, including project delays that adversely impacted its financial outlook. Notably, the suit contends that:

• - The actual repercussions of project delays were significantly worse than what was conveyed to investors.
• - Delays related to permitting and interconnections were hampering Nextracker's capacity to convert their backlog into revenue, falling short of previous performance metrics.
• - Despite claims of rising client demand, the anticipated positive offset from this demand was not realized.
• - The company lacked the supposed competitive edge that had been publicly asserted, which made it seem immune to industry-wide setbacks.

These claims culminated in a substantial decline in Nextracker's stock value. Following disappointing financial results announced on August 1, 2024, the company’s stock plummeted from $46.83 to $39.81 within a matter of days—a clear indication of the market's reaction to the new information.

Participation Rights for Investors

Investors affected by this situation may be eligible to take part in the class action against Nextracker Inc. Those shareholders wishing to act as lead plaintiffs—representing other class members—must submit their applications to the court by February 25, 2025. It’s important to note that it’s not mandatory to be an active participant in the case to still be eligible for recovery. Investors can choose to remain as absent class members and will still be entitled to any potential settlements.

Robbins LLP offers its services on a contingency-fee basis, meaning shareholders will not incur any upfront fees or expenses for their representation.

About Robbins LLP

Since its inception in 2002, Robbins LLP has established itself as a leading firm in shareholder rights litigation. The firm has been committed to assisting shareholders in recovering their losses while ensuring corporate governance accountability. To date, Robbins LLP has successfully secured over $1 billion for shareholders.

For those interested in receiving updates on any settlements related to the class action lawsuit against Nextracker Inc. or any other corporate misconduct notifications, they are encouraged to subscribe to the Stock Watch service.

Robbins LLP remains dedicated to upholding the rights of investors and invites those impacted by Nextracker's situation to explore their options thoroughly.

For more detailed inquiries or to sign up for alerts, contact attorney Aaron Dumas, Jr., or call Robbins LLP at (800) 350-6003 for more information.

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