BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of NuScale Power Corporation (“NuScale” or the “Company”) (NYSE: SMR) investors concerning the Company’s possible violations of federal securities laws.
On October 19, 2023, Iceberg Research published a report alleging, among other things, that NuScale “recently disclosed a huge contract with blockchain datacenter service provider Standard Power. This contract has zero chance of being executed as Standard Power clearly does not have the means to support contracts of this size.” Additionally, the report stated that “NuScale has around 15 months before its cash runs out.”
On this news, NuScale’s stock price fell $0.58, or 11.5%, to close at $4.46 per share on October 19, 2023, thereby injuring investors.
If you purchased NuScale securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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