Faruqi & Faruqi, LLP is investigating claims on behalf of Nextracker investors by velanja.com
Faruqi and Faruqi, Litigation Partner for LLP James (Josh) Wilson He encourages investors who have suffered losses in Nextracker to contact him directly to discuss their options
If you bought or acquired securities in Nexttracker Between February 1, 2024 and August 1, 2024 And you’d like to discuss your legal rights, call your partner Faruqi and Faruqi Josh Wilson direct on 877-247-4292 or 212-983-9330 (Ext. 1310).
[You may also click here for additional information]
New York, New York – (Newsfile Corp. – January 26, 2025) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Nextracker Inc . (“Nextracker” or the “Company”) ( NASDAQ: NXT ) and reminds investors of February 25, 2025 seek the role of lead plaintiff in a federal securities class action filed against the company.
Faruqi and Faruqi is a leading national law firm with offices in New York, Pennsylvania, California and Georgia. The company has taken out hundreds of millions of dollars for investors since it was founded in 1995. See www.faruqilaw.com.
As detailed, the complaint alleges that the company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) the impact of project delays on Nextracker’s business, financial results and prospects were far more serious than presented to investors; (2) allowing the delay and interconnection materially impaired Nextracker’s ability to convert the backlog into revenue at historical conversion rates; (3) Nextracker was unable to offset the adverse impact of project delays through increased client demand and the alleged ability to withdraw its other projects in the manner represented by Defendants; (4) Nextracker did not possess the competitive advantages that allegedly shielded it from industry-wide headwinds or the ability to effectively offset the adverse effects of project delays as alleged by Defendants; and (5) therefore, Defendants lacked a reasonable basis for their positive statements about Nextracker’s business, financial results and prospects.
The Nextracker class action lawsuit further states that on August 1, 2024, Nextracker disclosed that its revenue decreased sequentially, from $737 million in the fourth fiscal quarter of 2024 to $720 million during the first fiscal quarter of 2025. declined sequentially from $340 million in the fourth fiscal quarter of 2024 to $237 million during the first fiscal quarter of 2025. Famously, Nextracker did not raise the guidelines for the first time, which became a public company, which implies a slowdown in growth for the rest of the year.
On this news, Nextracker’s share price fell about 15% over two trading days.
A court-appointed lead plaintiff is the investor with the greatest financial interest in the relief sought by the class that is adequate and typical of class members directing and overseeing litigation on behalf of the purported class. Each putative class member can move the Court to serve as lead plaintiff through counsel of their choosing, or they can choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as lead plaintiff or not.
Faruqi and Faruqi, LLP also encourages anyone with information about Nextracker to contact the company, including whistleblowers, former employees, shareholders and others.
Advertising of lawyers. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Past results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your specific case. All communications will be treated confidentially.
To view the original version of this press release, please visit https://www.newsfilecorp.com/release/238360
