Nextracker (NXT) Prnewswire·2025-02-13 10:45Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Nextracker Inc. regarding a class action lawsuit due to alleged misleading statements and omissions related to project delays impacting the company's financial performance and prospects [1]. Group 1: Allegations Against Nextracker Inc. - The complaint alleges that Nextracker's management made materially false and misleading statements about the severity of project delays affecting the company's business and financial results [1]. - It is claimed that permitting and interconnection delays significantly impaired Nextracker's ability to convert backlog into revenue at historical rates [1]. - The company purportedly failed to offset the negative impacts of project delays through increased client demand or by pulling forward other projects as previously claimed [1]. - Nextracker is alleged to lack the competitive advantages that were said to protect it from industry-wide challenges, undermining the positive statements made by its management [1]. - As a result of these issues, the defendants are said to have lacked a reasonable basis for their optimistic statements regarding Nextracker's business and financial outlook [1]. Group 2: Class Action Participation - Shareholders who purchased Nextracker shares during the class period from February 1, 2024, to August 1, 2024, are encouraged to register for the class action by February 25, 2025 [2]. - Once registered, shareholders will receive updates through a portfolio monitoring software regarding the status of the case [2]. - Participation in the case does not incur any costs or obligations for the shareholders [2]. Group 3: About the Gross Law Firm - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and illegal business practices [3]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements or omissions that inflated stock prices [3].