Nextracker Inc.

Registration Deadline:

02/25/2025

Submit Your Information

A securities class action has been filed in the USDC — N.D.CA. against Nextracker Inc. (NXT) (“Nextracker” or the “Company”), on behalf of all those that purchased or otherwise acquired Nextracker common stock, between February 1, 2024, and August 1, 2024, both dates inclusive (the “Class Period”).

 

Nextracker is a supplier of software solutions and products that enable solar panels to follow the sun’s movements across the sky to optimize utility power plant performance.

 

The complaint alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that:

 

(1) the impact of project delays on Nextracker’s business, financial results, and prospects was far more severe than represented to investors;

(2) permitting and interconnection delays had materially impaired Nextracker’s ability to convert backlog into revenue at historical conversion rates;

(3) 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;

(4) 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

(5) consequently, defendants lacked a reasonable basis for their positive statements about Nextracker’s business, financial results, and prospect, thereby harming investors.

 

If you purchased Nextracker common stock during the class period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information.”

 

About Lowey Dannenberg

Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.

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