Nextracker (US:NXT) Prnewswireยท2025-01-23 17:13Core Viewpoint - A securities class action lawsuit has been filed against Nextracker Inc. for allegedly misleading investors regarding the impact of project delays on its business and financial results during the Class Period from February 1, 2024, to August 1, 2024 [1][2]. Allegations Against Defendants - The lawsuit claims that the defendants made false or misleading statements and failed to disclose significant issues, including: - The severity of project delays on Nextracker's business was greater than represented [2]. - Permitting and interconnection delays significantly impaired Nextracker's ability to convert backlog into revenue at historical rates [2]. - Nextracker could not offset the negative impacts from project delays through increased client demand as claimed [2]. - The company lacked the competitive advantages that were purportedly protecting it from industry-wide challenges [2]. - Defendants had no reasonable basis for their positive statements about Nextracker's business prospects [2]. Lead Plaintiff Process - Investors in Nextracker can seek to be appointed as lead plaintiffs by February 25, 2025, which allows them to represent the class in the litigation [3]. - The lead plaintiff is typically the investor or group of investors with the largest financial interest in the case [3]. Firm Background - Kessler Topaz Meltzer & Check, LLP is known for prosecuting class actions and has a reputation for recovering billions for victims of corporate misconduct [4].