NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces that a shareholder filed a class action on behalf of purchasers of common stock of Nextracker Inc. (NASDAQ: NXT) between February 1, 2024 and August 1, 2024. Nextracker describes itself as a company that “provides software that enables solar panels to follow the sun’s movement across the sky and related products and services.”
For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653.
The Allegations: Rosen Law Firm is Investigating the Allegations that Nextracker Inc. (NASDAQ: NXT) Misled Investors Regarding its Business Operations.
According to the lawsuit, throughout the Class Period, defendants made false and misleading statements and/or failed to disclose that: (1) the impact of project delays on Nextracker’s business, financial results, and prospects was far more severe than represented to investors; (2) permitting and interconnection delays had materially impaired Nextracker’s ability to convert backlog into revenue at historical conversion rates; (3) Nextracker had been unable to offset the negative impact from project delays through increased client demand and the purported ability to pull forward its other projects in the manner represented by defendants; (4) Nextracker did not possess the competitive advantages which purportedly shielded it from industry-wide headwinds or the ability to effectively offset the adverse effects of project delays as claimed by defendants; and (5) as a result of the above, defendants lacked a reasonable basis for their positive statements about Nextracker’s business, financial results, and prospects. When the true details entered the market, the lawsuit claims that investors suffered damages.
What Now: You may be eligible to participate in the class action against Nextracker Inc. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by February 25, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Rosen Law Firm: Some law firms issuing releases about this matter do not actually litigate securities class actions. Rosen Law Firm does. Rosen Law Firm is a recognized leader in shareholder rights litigation, dedicated to helping shareholders recover losses, improving corporate governance structures, and holding company executives accountable for their wrongdoing. Since its inception, Rosen Law Firm has obtained over $1 billion for shareholders.
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