Core Viewpoint - NET Power Inc. is facing a securities class action lawsuit for failing to disclose material information during the class period, which has led to significant financial implications for the company and its investors [3]. Company Information - NET Power Inc. trades on the NYSE under the ticker NPWR and is currently involved in a class action lawsuit that requires investors who purchased securities between June 9, 2023, and March 7, 2025, to file lead plaintiff applications by June 17, 2025 [1][2]. Financial Results - On March 10, 2025, NET Power announced its financial results for Q4 and the full fiscal year 2024, revealing that the estimated total installed cost for Project Permian has increased to between $1.7 billion and $2.0 billion, up from a previous estimate of $1.1 billion [4]. - The timeline for Project Permian has also been significantly delayed, with expectations for it to come online no earlier than 2029, compared to the earlier estimate of the second half of 2027 to the first half of 2028 [4]. Market Reaction - Following the announcement of the increased costs and delays, NET Power's share price dropped by $2.18, or 31.46%, closing at $4.75 per share on March 10, 2025 [5].

Core Viewpoint - NET Power Inc. is facing a class action lawsuit due to alleged violations of the Securities Exchange Act of 1934, with claims that the company misled investors regarding the timeline and costs associated with its Project Permian [1][2]. Company Overview - NET Power operates as an energy technology company focused on developing its first utility-scale plant, referred to as Project Permian, located in La Porte, Texas [2]. - The company has been conducting research and equipment validation testing as part of its project development efforts [2]. Allegations and Financial Impact - The lawsuit alleges that NET Power made false or misleading statements about the likelihood of completing Project Permian on schedule and the associated costs, which were expected to be significantly higher than previously represented [2]. - On November 14, 2023, NET Power announced a delay in the project timeline, now expecting initial power generation between the second half of 2027 and the first half of 2028, which was a significant shift from the original 2026 target. This announcement led to an over 18% drop in the company's stock price [3]. - On March 10, 2025, NET Power revised its total installed cost estimate for Project Permian to between $1.7 billion and $2.0 billion, up from a previous estimate of $1.1 billion. The project timeline was further extended to no earlier than 2029, resulting in a more than 31% decline in stock price following the announcement [4]. - On April 15, 2025, the announcement of the departure of key executives, including the President and COO, led to a nearly 6% drop in NET Power's stock price [5]. Legal Process - Investors who purchased NET Power securities during the class period have until June 17, 2025, to seek appointment as lead plaintiff in the class action lawsuit [1][6]. - The lead plaintiff will represent the interests of all class members and can select a law firm of their choice for litigation [6]. Law Firm Background - Robbins Geller Rudman & Dowd LLP is a leading law firm specializing in securities fraud and shareholder litigation, having secured over $2.5 billion for investors in 2024 alone [7].

Group 1 - A class action has been filed against NET Power Inc. on behalf of investors who purchased securities between June 9, 2023, and March 7, 2025 [1] - The allegations include that NET Power misled investors about the timeline and costs associated with Project Permian, indicating that the project would be delayed and more expensive than previously stated due to supply chain issues and other challenges [2] - Following the announcement of third quarter 2023 results, NET Power's stock fell over 18% after revealing a 12-month delay in the expected schedule for Project Permian [3] Group 2 - On March 10, 2025, NET Power disclosed that the total installed cost for Project Permian is now estimated to be between $1.7 billion and $2.0 billion, significantly higher than the previous estimate of $1.1 billion, and announced a delay in the project's timeline to no earlier than 2029 [4] - The company reported a decrease in cash and cash equivalents from $580 million to $533 million, primarily due to operating cash outflows and capital expenditures [4] - Following the fourth quarter and full year 2024 results announcement, NET Power's stock price fell over 31% to close at $4.75 per share [4]

Core Viewpoint - A class action lawsuit has been filed against NET Power Inc. and certain officers for alleged violations of federal securities laws during the Class Period from June 9, 2023, to March 7, 2025, seeking damages for misleading statements regarding the company's business and operations [1][7]. Company Overview - NET Power is a clean energy technology company focused on its "Net Power Cycle" technology, which aims to generate reliable and affordable electricity from natural gas while capturing nearly all emissions [4]. - The company operates a demonstration facility in La Porte, Texas, and is developing its first utility-scale plant, referred to as "Project Permian," located in the Permian Basin of West Texas [4]. Project Permian Details - Initially, NET Power projected that Project Permian would be operational in 2026, with a cost estimate of approximately $950 million in 2023, which later increased to $1.1 billion in 2024 [5][6]. - The completion of Project Permian is critical for the company's commercial operations and financial prospects, making the accuracy of timelines and cost estimates vital for investors [6]. Allegations in the Lawsuit - The lawsuit claims that throughout the Class Period, NET Power's executives made materially false and misleading statements about the company's operations and prospects, including the likelihood of completing Project Permian on schedule and the associated costs [7]. - Specific allegations include that the project was unlikely to be completed on time due to supply chain issues and other challenges, and that the projected costs were unrealistic [7]. Stock Price Reactions - Following a press release on November 14, 2023, announcing a delay in Project Permian's timeline to between the second half of 2027 and the first half of 2028, NET Power's stock price fell by $2.47, or 18.54%, closing at $10.85 [8][9]. - On March 10, 2025, the company announced a revised total installed cost for Project Permian between $1.7 billion and $2.0 billion, leading to a further stock price decline of $2.18, or 31.46%, closing at $4.75 [10]. - Following the announcement of the departure of key executives on April 15, 2025, the stock price dropped by $0.13, or 5.75%, to close at $2.13 [11].

NEW YORK, April 21, 2025 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Middle District of North Carolina on behalf of all persons or entities who purchased or otherwise acquired NET Power Inc. (“Net Power” or the “Company”) (NYSE: NPWR) securities between June 9, 2023 and March 7, 2025, inclusive (the “Class Period”). The lawsuit seeks to recover damages for the Company’s investors under the federal s ...

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fid ...

Market Overview - U.S. stocks experienced a decline, with the Nasdaq Composite falling over 700 points, Dow down 1.43% to 42,190.51, NASDAQ down 3.90% to 17,486.28, and S&P 500 down 2.46% to 5,628.52 [1] - European shares also fell, with the eurozone's STOXX 600 down 1.28%, Germany's DAX 40 down 1.86%, and France's CAC 40 down 0.64% [6] - Asian markets closed mostly lower, with Japan's Nikkei gaining 0.38% while China's Shanghai Composite Index fell 0.19% and Hong Kong's Hang Seng Index fell 1.85% [7] Sector Performance - Energy shares rose by 2.1% on Monday, while information technology shares dipped by 4.1% [1] Company News - Mineralys Therapeutics, Inc. saw a 53% increase in shares to $16.13 after reporting positive data from its hypertension trials [9] - Redfin Corporation's shares surged 72% to $10.03 following an acquisition announcement by Rocket Companies valued at $12.50 per share [9] - Checkpoint Therapeutics, Inc. shares rose 64% to $4.0450 after Sun Pharma announced a $365 million acquisition [9] - NET Power Inc. shares dropped 58% to $2.8899 after reporting a fourth-quarter GAAP loss of 46 cents per share [9] - Rocket Companies, Inc. shares fell 13% to $13.73 after the announcement of the acquisition of Redfin [9] - Robinhood Markets, Inc. shares decreased by 14% to $38.35 [9]