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SMR.US
id: 872, Created by Polina Foster, Scout
NuScale (SMR) Two Large Contracts Case
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D. Oregon
Court3:23-cv-01689
Case number- The lawsuit claims NuScale hid inflation impact on CFPP and Standard Power's financial incapacity for its NuScale agreement.
- On November 8, 2023, the truth came out, leading to a 32% $SMR fall the next day.
NuScale allegedly misled about the impact of inflation on construction and power costs, hindering the Carbon Free Power Project (CFPP) subscription goals.
It also claims that Standard Power lacked the financial capacity for its agreement with NuScale.
This news caused $SMR fall by 32% and $78.31M loss of market cap, damaging shareholders.
Given all this information, investors have reason to suspect that NuScale misled them about the financial strength of Standard Power and inflated construction and power costs.
Alleged Offence
Mismanagement,
Misleading Statements,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
09 November 2023
Filing date
15 November 2023
Lead Plaintiff Deadline
15 January 2024
Judge
Michael W Mosman