Philadelphia, Pennsylvania--(Newsfile Corp. - January 6, 2025) - A recently filed federal securities fraud class action complaint alleges that Nextracker, Inc. (NASDAQ: NXT) misled investors regarding the Company's financial prospects.
If you are a Nextracker, Inc. (NASDAQ: NXT) shareholder who acquired Nextracker shares prior to February 1, 2024, and want to learn more about your rights and ability to benefit financially, at no cost to you, please visit https://grabarlaw.com/the-latest/nextracker-shareholder-investigation/, contact Joshua Grabar at jgrabar@grabarlaw.com or Mia Heller at mheller@grabarlaw.com, or call us at 267-507-6085.
Why? A recently filed securities fraud class action complaint alleges that between February 1, 2024 and August 1, 2024 (the "Class Period"), Nextracker, via certain of its officers, failed to disclose: (a) that the impact of project delays on Nextracker's business, financial results, and prospects was far more severe than represented to investors; (b) that permitting and interconnection delays had materially impaired Nextracker's ability to convert backlog into revenue at historical conversion rates; (c) that 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; and (d) that 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. Nextracker's stock dropped once the truth emerged.
What To Do Now: Current Nextracker shareholders who have held shares of the Company's stock since prior to February 1, 2024, as well as those who purchased Nextracker shares during the Class Period, can seek corporate reforms, the return of funds, and a court approved incentive award if appropriate, at no cost to them whatsoever.
If you would like to learn more at no cost to you, you are encouraged to visit https://grabarlaw.com/the-latest/nextracker-shareholder-investigation/, contact Joshua Grabar at jgrabar@grabarlaw.com or Mia Heller at mheller@grabarlaw.com, or call us at 267-507-6085.
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