NuScale(US:SMR) Globenewswire·2026-03-01 11:36Core Viewpoint - A class action lawsuit has been filed against NuScale Power Corporation and its executives for securities fraud, following a significant stock drop of 12.4% attributed to alleged misrepresentations regarding ENTRA1's capabilities [1][2][10]. Group 1: Lawsuit Details - The lawsuit claims violations of federal securities laws under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, representing investors in NuScale Class A common stock [5]. - Investors have until April 20, 2026, to request to lead the case, which is currently pending in the U.S. District Court for the District of Oregon [5][10]. Group 2: Allegations Against NuScale - NuScale is accused of misrepresenting ENTRA1 Energy LLC's experience and capabilities in developing nuclear power projects, claiming it had extensive expertise when, in fact, ENTRA1 had never completed any significant projects [6][8]. - The partnership with ENTRA1 was intended for constructing power generation facilities using NuScale's technology, but ENTRA1 was primarily organized to support its principal, Wadie Habboush, rather than to execute projects [6][8]. Group 3: Stock Performance Impact - On November 6, 2025, NuScale reported a dramatic increase in general and administrative expenses from $17 million to $519 million, largely due to a $495 million payment to ENTRA1 [9]. - Following the disclosure of ENTRA1's lack of significant experience, NuScale's stock price fell from $32.46 to $28.43 per share over two trading days, marking a decline of $4.03 per share or over 12.4% [9].