NuScale (SMR) Two Large Contracts Case

The case has been dismissed, typically without any further action.

D. Oregon

Court

3:23-cv-01689

Case number

03/15/2023

Class period Start

10/19/2023

Class period End

01/15/2024

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 Type

US Securities Class Action

Case Status

Dismissed

Alleged Offence

Mismanagement,

Misleading Statements,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Shock Event Date

11/09/2023

Filing date

11/15/2023

Lead Plaintiff Deadline

01/15/2024

Judge

Michael W Mosman

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