#United States #New York #Class Action #Levi & Korsinsky #NET Power

Legal Action for NET Power, Inc. Investors

In a significant development for shareholders of NET Power, Inc. (NYSE: NPWR), those who have suffered financial losses are encouraged to reach out to Levi & Korsinsky, LLP regarding a pending class action securities lawsuit. This class action is aimed at facilitating compensation for investors adversely affected by allegedly fraudulent activities spanning from June 9, 2023, to March 7, 2025.

Background of the Case

The lawsuit arises from claims that NET Power, Inc. misled its investors about the progress and cost of its first utility-scale plant, Project Permian. The complaint asserts that management made false statements regarding the project’s timeline and budget, indicating it was likely to be completed on time and within a certain expenditure. In reality, significant supply chain issues and various challenges at the site were likely to delay and inflate the overall costs significantly.

According to the filings, the management’s optimistic projections about the project’s financial and time requirements were unrealistic. As a result, the true financial impact of these issues was hidden from investors, fundamentally misrepresenting the company’s health and performance.

Class Action Details

The class action seeks to recover losses experienced by those who invested in NET Power during the aforementioned timeframe. Potential claimants have until June 17, 2025, to apply for appointment as lead plaintiff in this action. It is important to note that you do not need to serve as a lead plaintiff to benefit from any eventual compensation.

Levi & Korsinsky has a decade-long history of advocating for shareholders, securing hundreds of millions of dollars in settlements for clients affected by securities fraud. With over 70 experienced legal professionals, the firm specializes in complex securities litigation, thus representing investors efficiently.

No Financial Risk to Investors

A significant advantage of participating in this class action is that there is no financial obligation for class members. Investors can pursue potential recovery without incurring any out-of-pocket costs or fees. The commitment to join the lawsuit poses no financial risk while still offering the opportunity for possible compensation.

Next Steps for Affected Investors

Shareholders who believe they qualify for this class action lawsuit should not hesitate to contact Levi & Korsinsky to discuss their situation. Interested parties can connect via email at [email protected] or by phone at (212) 363-7500.

Moreover, for those wishing to get detailed information on how to participate, more can be found by visiting the firm’s dedicated website here.

In conclusion, affected shareholders are urged to take proactive steps in seeking justice. The impending class action represents a vital chance for financial recovery for those who faced losses due to purported misrepresentation by NET Power, Inc. It is a crucial reminder of the shareholders' rights and importance of speaking out against unfair corporate practices.

Contact Information

Levi & Korsinsky, LLP*
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
Email: [email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
Website: www.zlk.com