Sign In
Step 1
Unite with Fellow Investors
Step 2
Choose the Best Attorney
Step 3
Provide Documents
Step 4
Follow Case Progress
Step 5
Get Payout
SMR.US
id: 872

NuScale (SMR) Two Large Contracts Case

D. Oregon
Court
3:23-cv-01689
Case number
15 Mar 2023
Class period Start
19 Oct 2023
Class period End
15 Jan 2024
Lead Plaintiff motion deadline
  • 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.
Case Status
Lead Plaintiff Appointed
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
Collecting participants…

Nuscale Power Corp

NuScale Power Corporation engages in the development and sale of modular light water reactor nuclear power plants to supply energy for electrical generation, district heating, desalination, hydroge...

    Ticker
    SMR.US
    ISIN
    US67079K1007
    CIK
    1822966
    Sector
    Industrials
    Industry
    Specialty Industrial Machinery
    Country
    USA
    Address
    6650 SW Redwood Lane, Portland, OR, United States, 97224