NuScale Power Corporation

Background

Company Name	NuScale Power Corporation
Stock Symbol	SMR
Class Period	March 15, 2023 to November 08, 2023
Lead Plaintiff Motion Deadline	January 16, 2024

Submit Your Information

If you suffered a loss on your NuScale Power Corporation investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below. Please note that submission of this form does not by itself form an attorney-client relationship nor does filling out this form mean you have joined any lawsuit.

First Name*

Middle Initial

Last Name*

Email*

Phone*

If representing a Corporation, Trust, Partnership or other entity, Name of Entity

If representing an Entity, Position at Entity

Mailing Address

City

State/Province

ZIP/Postal Code

Country

Are you a current or former employee of the company?

Did you purchase any shares before March 15, 2023?

Shares Purchased

Number of Shares	Buy Date	Price Per Share	Add
Purchased quantity	Purchased month Purchased day Purchased year

Shares Sold

Number of Shares	Sell Date	Price Per Share	Add
	Sold month Sold day Sold year

Additional Comments

Background

On October 19, 2023, Iceberg Research published a report alleging, among other things, that NuScale would be unable to fulfill its contract with the Utah Associated Municipal Power Systems (“UAMPS”) for its Carbon Free Power Project (“CFPP”), as well as a contract with Standard Power, a company providing data center services for businesses focusing on blockchain mining and high performance computing applications.

On this news, NuScale’s stock price fell $0.58, or 11.5%, to close at $4.46 per share on October 19, 2023, thereby injuring investors.

Then, on November 8, 2023, NuScale and UAMPS announced that they had agreed to terminate the CFPP contract due to failing to engage enough subscribers.

On this news, NuScale’s stock price fell $1.02, or 32.9%, to close at $2.08 per share on November 9, 2023, thereby injuring investors further.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) because of the effect of inflationary pressures on the cost of construction and power, the Company and UAMPS would be unable to sign up enough subscribers to fulfill the CFPP; (2) Standard Power did not have the financial ability to support its agreement with NuScale; and (3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

Submit Your Information