SAN DIEGO, Jan. 07, 2025 (GLOBE NEWSWIRE) — Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of Nextracker Inc. (NASDAQ: NXT). The lawsuit seeks to recover losses on behalf of investors who acquired securities between February 1, 2024 and August 1, 2024. Investors have until February 25, 2025, to apply to the Court to be appointed as lead plaintiff in the lawsuit.
If you incurred significant losses and want to act as the lead plaintiff in the Nextracker Inc. class action lawsuit or determine if you are eligible to receive a potential recovery of your losses, please submit your details here: https://www.johnsonfistel.com/investigations/nextracker-class-action
Contact for More Information: James Baker, (619) 814-4471, jimb@johnsonfistel.com or fjohnson@johnsonfistel.com
The Nextracker class action lawsuit alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) the impact of project delays on Nextracker’s business, financial results, and prospects was far more severe than represented to investors; (ii) permitting and interconnection delays had materially impaired Nextracker’s ability to convert backlog into revenue at historical conversion rates; (iii) Nextracker had been unable to offset the negative impact from project delays through increased client demand and the purported ability to pull forward its other projects in the manner represented by defendants; (iv) Nextracker did not possess the competitive advantages which purportedly shielded it from industry-wide headwinds or the ability to effectively offset the adverse effects of project delays as claimed by defendants; and (v) consequently, defendants lacked a reasonable basis for their positive statements about Nextracker’s business, financial results, and prospects.
Investor Action Steps: Shareholders who incurred losses during the class period, have until February 25, 2025, to move the court to become a lead plaintiff in this action. A lead plaintiff will act on behalf of all other class members in directing the class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor’s ability to share any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff.
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Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. We also extend our services to foreign investors who have purchased on US exchanges. Stay updated with news on stock drops and learn how Johnson Fistel, LLP can help you recover your losses. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com.
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Contact:
Johnson Fistel, LLP
501 W. Broadway, Suite 800, San Diego, CA 92101
James Baker, Investor Relations or Frank J. Johnson, Esq., (619) 814-4471
jimb@johnsonfistel.com or fjohnson@johnsonfistel.com
