Nextracker (NXT) Prnewswire·2025-02-18 16:15Core Viewpoint - The Nextracker Inc. class action lawsuit alleges that the company and certain executives made misleading statements regarding the company's business performance and failed to disclose significant project delays impacting financial results [3][4]. Group 1: Class Action Details - The class action lawsuit is titled Weber v. Nextracker Inc., and it involves purchasers of Nextracker common stock between February 1, 2024, and August 1, 2024 [1]. - Investors have until February 25, 2025, to seek appointment as lead plaintiff in the lawsuit [1][6]. - The lawsuit claims that Nextracker's business was severely impacted by project delays, which were not adequately communicated to investors [3]. Group 2: Financial Performance - On August 1, 2024, Nextracker reported a sequential revenue decline from 720 million in Q1 2025 [4]. - The company's GAAP gross profit also declined from 237 million in Q1 2025 [4]. - Nextracker did not raise guidance for the first time since going public, indicating a potential slowdown in growth [4]. Group 3: Legal Representation - The plaintiff is represented by Robbins Geller Rudman & Dowd LLP, a law firm with extensive experience in prosecuting investor class actions [5]. - Robbins Geller has secured significant monetary relief for investors, recovering $6.6 billion in securities-related class action cases [7].