Nextracker (NXT) Prnewswire·2025-02-20 10:45Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Nextracker Inc. regarding a class action lawsuit alleging that the company made materially false and misleading statements about its business and financial prospects during a specified class period [1]. Group 1: Allegations Against Nextracker Inc. - The complaint claims that the impact of project delays on Nextracker's business was more severe than represented to investors [1]. - It is alleged that permitting and interconnection delays significantly impaired Nextracker's ability to convert backlog into revenue at historical rates [1]. - Nextracker reportedly could not offset the negative impacts from project delays through increased client demand as claimed [1]. - The company is accused of lacking the competitive advantages that were purportedly shielding it from industry-wide challenges [1]. - As a result of these issues, the defendants allegedly lacked a reasonable basis for their positive statements about Nextracker's business and financial outlook [1]. Group 2: Class Action Details - The class period for the lawsuit is defined as February 1, 2024, to August 1, 2024 [1]. - Shareholders are encouraged to register for the class action by February 25, 2025, to potentially be appointed as lead plaintiffs [2]. - Once registered, shareholders will receive updates through a portfolio monitoring software regarding the case's status [2]. Group 3: Firm's Mission and Commitment - The Gross Law Firm is recognized nationally for its commitment to protecting investors' rights against deceit and fraud [3]. - The firm aims to ensure that companies adhere to responsible business practices and engage in good corporate citizenship [3]. - The firm seeks recovery for investors who suffered losses due to misleading statements or omissions that inflated the company's stock value [3].