NET Power Shareholder Alert: Class Action Lawsuit Details
As a shareholder in NET Power Inc., it's crucial to be aware of the ongoing class action lawsuit that may impact your financial interests. Kahn Swick & Foti, LLC (KSF), in partnership with Charles C. Foti, Jr., the former Attorney General of Louisiana, is actively seeking lead plaintiffs to represent investors with significant losses exceeding $100,000.
Key Deadline for Investors
Investors who purchased NET Power shares between June 9, 2023, and March 7, 2025, are encouraged to file their applications to serve as lead plaintiffs by
June 17, 2025. This deadline is significant, as it could dictate your rights to recovery in this lawsuit, which is being heard in the United States District Court for the Middle District of North Carolina.
The Lawsuit's Background
The lawsuit arises from allegations that NET Power and certain executives failed to disclose vital information regarding financial results and operational timelines, constituting a violation of federal securities laws. Specifically, the company’s announcement on March 10, 2025, revealed that the estimated cost for Project Permian had ballooned to between $1.7 billion and $2.0 billion. This was a substantial increase from previous estimates and came alongside news of significant delays in Project Permian’s timeline, now expected to commence operations no earlier than 2029.
This revelation led to a drastic drop in the company's stock price, which plunged by
31.46% to close at
$4.75 per share on the announcement day. Such a sharp decline reflects the impact of the disclosed information on investor confidence and stock valuation.
How to Join the Lawsuit
If you believe you have grounds for participating in this class action lawsuit, KSF encourages you to reach out without obligation. You can speak with Kahn Swick & Foti's Managing Partner, Lewis Kahn, at
1-877-515-1850 or contact via email at
email protected]. More information is also available on their dedicated webpage for this lawsuit: [KSF Law.
The Importance of Action
Taking timely action is vital to protect your rights as an investor. If you have experienced investment losses during the defined Class Period, participating in this class action might be your opportunity to recover some or all of your losses. Kahn Swick & Foti have established themselves as a leading firm in securities litigation, assisting numerous investors in seeking recoveries for their losses due to corporate misconduct.
To learn more about your rights and the specific details of this case, don’t hesitate to contact KSF before the impending deadline.
About Kahn Swick & Foti, LLC
Kahn Swick & Foti, LLC is recognized as one of the premier boutique law firms specializing in securities litigation. Founded by former Louisiana Attorney General Charles C. Foti, Jr., the firm has achieved top rankings in terms of settlement values in the legal community. With a focus on representing both institutional and retail investors, KSF is dedicated to pursuing justice and recovery for those impacted by corporate fraud or malfeasance.
For more information about KSF, visit their website:
Kahn Swick & Foti.
As an investor in NET Power Inc., understanding your rights and the potential course of legal action is essential. Stay informed and act promptly to safeguard your investments.