NEW YORK, NY / ACCESSWIRE / August 22, 2024 / Pomerantz LLP is investigating claims on behalf of investors of NuScale Power Corporation ("NuScale" or the "Company") (NYSE:SMR). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether NuScale and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On July 29, 2024, Hunterbrook Media ("Hunterbrook") reported that "[t]he U.S. Securities and Exchange Commission's Division of Enforcement is conducting an ‘active and ongoing' investigation into NuScale", citing the "SEC's July 24 response to an open records request obtained by Hunterbrook[.]" Although the SEC's response to Hunterbrook's request did not provide details regarding the subject of its investigation, Hunterbrook's report noted that "the U.S. Nuclear Regulatory Commission raised significant questions about NuScale's risk mitigation plans for one of its reactor designs" and further asserted that "after a decade and a half of research and development, NuScale has yet to commercialize any reactors."
On this news, NuScale's stock price fell $1.35 per share, or 12.44%, to close at $9.50 per share on July 29, 2024.
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 fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP
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