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NET POWER SHAREHOLDER ALERT: CLAIMSFILER REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against NET Power Inc. - NPWR
NETCloudflare(NET) GlobeNewswire News Room·2025-04-24 02:50

Core Viewpoint - NET Power Inc. is facing a securities class action lawsuit for failing to disclose material information during the class period from June 9, 2023, to March 7, 2025, which has led to significant financial implications for the company and its investors [1][3]. Group 1: Lawsuit Details - Investors have until June 17, 2025, to file lead plaintiff applications in the lawsuit against NET Power [1]. - The lawsuit is pending in the United States District Court for the Middle District of North Carolina [1]. - The case is identified as Luciani v. Net Power Inc., et al., No. 25-cv-00296 [5]. Group 2: Financial Impact - On March 10, 2025, NET Power announced that the total installed cost for Project Permian is now estimated to be between 1.7billionand1.7 billion and 2.0 billion, a significant increase from the previous estimate of 1.1billion[4].ThetimelineforProjectPermianhasbeendelayed,withexpectationsforittocomeonlinenoearlierthan2029,comparedtothepriorestimateofthesecondhalfof2027tothefirsthalfof2028[4].Followingthisannouncement,NETPowerssharepricefellby1.1 billion [4]. - The timeline for Project Permian has been delayed, with expectations for it to come online no earlier than 2029, compared to the prior estimate of the second half of 2027 to the first half of 2028 [4]. - Following this announcement, NET Power's share price fell by 2.18, or 31.46%, closing at $4.75 per share on March 10, 2025 [5].