Core Viewpoint - The article discusses a class action lawsuit against NET Power Inc. due to significant delays and cost overruns related to its Project Permian, which has negatively impacted the company's stock price and investor confidence [1][6]. Financial Performance and Events - On November 14, 2023, NET Power announced a delay in its Project Permian, pushing the expected operational date from 2026 to between the second half of 2027 and the first half of 2028, citing global supply chain issues [2]. - Following this announcement, NET Power's stock price dropped by $2.47, or 18.5%, closing at $10.85 per share [3]. - On March 10, 2025, the company revealed that the cost estimate for Project Permian had risen significantly, with total installed costs now estimated between $1.7 billion and $2 billion, leading to another stock price decline of $2.18, or 31.5%, closing at $4.75 per share [4]. - On April 15, 2025, the departure of key executives resulted in a further stock price decrease of $0.13, or 5.8%, closing at $2.13 per share [5]. Lawsuit Details - The class action lawsuit alleges that NET Power made materially false and misleading statements regarding the project's timeline and costs, failing to disclose the likelihood of delays and increased expenses due to supply chain issues and other challenges [6]. - Investors who purchased NET Power securities during the class period (June 9, 2023, to March 7, 2025) are encouraged to file a lead plaintiff motion by June 17, 2025 [1][7].
Deadline Alert: NET Power Inc. (NPWR) Investors Who Lost Money Urged To Contact Glancy Prongay & Murray LLP About Securities Fraud Lawsuit