Archived Investigations
NET Power Inc. (NYSE: NPWR)
NET Power and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On March 10, 2025, pre-market, the Company announced its financial results for the fourth quarter and full fiscal year 2024, disclosing, among other things, that it “now estimates Project Permian’s total installed cost to be between $1.7 billion and $2.0 billion,” significantly higher than its last estimate of $1.1 billion, and that Project Permian would be significantly delayed, expected to come online no earlier than 2029, compared to its prior timeline of between the second half of 2027 and first half of 2028.
On this news, the price of NET Power’s shares fell $2.18 per share, or 31.46%, to close at $4.75 per share on March 10, 2025.
The case is Luciani v. Net Power Inc., et al., No. 25-cv-00296.