NuScale(US:SMR) Globenewswire·2026-02-23 12:07Core Viewpoint - A class action lawsuit has been filed against NuScale Power Corporation and certain senior executives for securities fraud following a significant stock drop attributed to potential violations of federal securities laws [1][3]. Group 1: Lawsuit Details - The lawsuit is pending in the U.S. District Court for the District of Oregon, captioned Truedson v. NuScale Power Corporation, et al., No. 3:26-cv-00328 [3]. - Investors have until April 20, 2026, to request to be appointed to lead the case [3]. Group 2: Company Background - NuScale Power Corporation specializes in nuclear technology, particularly the NuScale Power Module (NPM), a small modular nuclear reactor designed for energy generation [4]. - The company had established a partnership with ENTRA1 Energy LLC, which was responsible for constructing power generation facilities using NuScale's NPMs [4]. Group 3: Allegations Against ENTRA1 - NuScale allegedly misrepresented ENTRA1's capabilities, claiming it had extensive experience in developing power plants, while in reality, ENTRA1 had never built or operated any significant projects [5][6]. - ENTRA1 was primarily organized to support the activities of its principal, Wadie Habboush, rather than to undertake substantial projects [6]. Group 4: Stock Price Impact - On November 6, 2025, NuScale reported a dramatic increase in general and administrative expenses from $17 million in the prior year to $519 million in 3Q 2025, largely due to a $495 million payment to ENTRA1 [7]. - Following the disclosure of ENTRA1's lack of experience in nuclear power projects, NuScale's stock price fell by $4.03 per share, a decline of over 12.4%, from $32.46 on November 6, 2025, to $28.43 on November 10, 2025 [7].