Latest news with #ProjectPermian
Business Wire
3 days ago
- Business
- Business Wire
NPWR Investors Have Opportunity to Lead NET Power Inc. Securities Fraud Lawsuit with the Schall Law Firm
LOS ANGELES--(BUSINESS WIRE)-- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against NET Power Inc. ('Net Power' or 'the Company') (NYSE: NPWR) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Investors who purchased the Company's securities between June 9, 2023 and March 7, 2025, inclusive (the 'Class Period'), are encouraged to contact the firm before June 17, 2025. If you are a shareholder who suffered a loss, click here to participate. We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at or by email at bschall@ The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member. According to the Complaint, the Company made false and misleading statements to the market. Net Power was unlikely to complete Project Permian on time and on budget due to supply chain issues and multiple issues specific to the site and region. The Company's projections about the time and financial resources required to complete Project Permian were not based in reality. The Company's financial results and business would be negatively impacted by the delays and cost overruns associated with Project Permian. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Net Power, investors suffered damages. Join the case to recover your losses. The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
Business Upturn
4 days ago
- Business
- Business Upturn
Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Open Lending Corporation, Civitas Resources, and Avis Budget and Encourages Investors to Contact the Firm
NEW YORK, June 16, 2025 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Open Lending Corporation (NASDAQ:LPRO), NET Power, Inc. (NYSE:NPWR), Civitas Resources, Inc. (NYSE: CIVI), and Avis Budget Group, Inc. (NASDAQ:CAR). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided. Open Lending Corporation (NASDAQ:LPRO) Class Period: February 24, 2022 – March 31, 2025 Lead Plaintiff Deadline: June 30, 2025 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: (1) misrepresented the capabilities of the Company's risk-based pricing models; (2) issued materially misleading statements regarding the Company's profit share revenue; (3) failed to disclose the Company's 2021 and 2022 vintage loans had become worth significantly less than their corresponding outstanding loan balances; (4) misrepresented the underperformance of the Company's 2023 and 2024 vintage loans; and (5) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. For more information on the Open Lending class action go to: NET Power, Inc. (NYSE:NPWR) Class Period: June 9, 2023 – March 7, 2025 Lead Plaintiff Deadline: June 17, 2025 Net Power is a clean energy technology company. Its business is centered around its so-called 'Net Power Cycle' technology, which is a purported novel power generation system designed to produce reliable and affordable electricity from natural gas while capturing virtually all atmospheric emissions. Net Power has a facility located in La Porte, Texas, which it uses to demonstrate the viability of the NET Power Cycle, referred to as 'La Porte' or the 'Demonstration Plant.' Net Power conducts research and equipment validation testing campaigns at the Demonstration Plant as part of its efforts to develop its first utility-scale plant, which it variably refers to as 'SN1' or 'Project Permian.' Project Permian is located at a site in the Permian Basin of West Texas. Since before the start of the Class Period, Defendants had represented that they anticipated SN1 to be operational in 2026. In 2023, Net Power's cost estimate for Project Permian was roughly $950 million, which increased to $1.1 billion in 2024. Net Power's commencement of commercial operations and, accordingly, its business and financial prospects, rely on its completion of Project Permian. As such, Defendants' projected timelines and cost estimates for Project Permian are of particular importance to investors and analysts. The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Net Power was unlikely to complete Project Permian on schedule, and the project was likely to be significantly more expensive than Defendants had represented, because of, inter alia, supply chain issues and numerous site- and region-specific challenges; (ii) accordingly, Defendants' projections regarding the time and capital needed to complete Project Permian were unrealistic; (iii) the increased time and capital needed to complete Project Permian were likely to have a significant negative impact on the Company's business and financial results; and (iv) as a result, Defendants' public statements were materially false and misleading at all relevant times. For more information on the NET Power class action go to: Civitas Resources, Inc. (NYSE: CIVI) Class Period: February 27, 2024 – February 24, 2025 Lead Plaintiff Deadline: July 1, 2025 The Civitas Resources class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Civitas Resources was highly likely to significantly reduce its oil production in 2025 as a result of, among other things, declines following the production peak at the DJ Basin in the fourth quarter of 2024 and a low TIL count at the end of 2024; (ii) increasing its oil production would require Civitas Resources to acquire additional acreage and development locations, thereby incurring significant debt and causing Civitas Resources to sell corporate assets to offset its acquisition costs; (iii) Civitas Resources' financial condition would require it to implement disruptive cost reduction measures including a significant workforce reduction; and (iv) accordingly, Civitas Resources' business and/or financial prospects, as well as its operational capabilities, were overstated. The Civitas Resources class action lawsuit further alleges that on February 24, 2025, Civitas Resources announced its financial results for the fourth quarter and full year 2024, reporting revenue of $1.29 billion, missing consensus estimates by $3.44 million, and non-GAAP earnings per share of $1.78 for the quarter, missing consensus estimates by $0.21 per share. According to the complaint, also on February 24, 2025, Civitas Resources revealed several 2025 outlook highlights, including '[d]elivering oil production between 150 and 155 thousand barrels per day ('MBbl/d') on average,' – a year-over-year decline of approximately 4% –'[e]xpanding [its] Permian Basin position with a $300 million bolt-on transaction that adds 19,000 net acres and approximately 130 future development locations in the Midland Basin,' and '[e]xecuting on [a] new divestment target of $300 million' meant to offset the foregoing transaction. Civitas Resources explained that '[a]s compared to the fourth quarter of 2024, lower volumes are primarily driven by the DJ Basin, due to natural declines following peak production in the fourth quarter, a low TIL count exiting 2024 and in the first quarter of 2025,' as well as severe winter weather and unplanned third-party processing downtime in the first quarter, the Civitas Resources class action lawsuit alleges. Civitas Resources additionally announced a 10% reduction in its workforce across all levels and the termination of its Chief Operating Officer and Chief Transformation Officer, according to the complaint. On this news, the price of Civitas Resources stock fell more than 18%, according to the Civitas Resources class action lawsuit. For more information on the Civitas class action go to: Avis Budget Group, Inc. (NASDAQ:CAR) Class Period: February 16, 2024 – February 10, 2025 Lead Plaintiff Deadline: June 24, 2025 The lawsuit alleges that Defendants made materially false and misleading statements and/or failed to disclose material adverse information regarding the Company's business, operations, and prospects, including allegations that: (i) Avis Budget crafted and implemented a plan to significantly accelerate its fleet rotation in the fourth quarter of 2024; (ii) the foregoing acceleration shortened the useful life of the majority of the Company's vehicles in the Americas segment, thereby reducing their recoverable value; (iii) as a result, Avis Budget would be forced to recognize billions of dollars in impairment charges and incur substantial losses; (iv) all the foregoing was likely to, and did, have a significant negative impact on the Company's financial results; and (v) accordingly, Avis Budget's financial and/or business prospects were overstated. For more information on the Avis Budget class action go to: About Bragar Eagel & Squire, P.C.: Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit . Attorney advertising. Prior results do not guarantee similar outcomes. Contact Information: Bragar Eagel & Squire, Walker, Esq. Marion Passmore, Esq.(212) 355-4648 [email protected]
Business Wire
4 days ago
- Business
- Business Wire
Deadline Soon: NET Power Inc. (NPWR) Investors Who Lost Money Urged To Contact The Law Offices of Frank R. Cruz About Securities Fraud Lawsuit
LOS ANGELES--(BUSINESS WIRE)-- The Law Offices of Frank R. Cruz reminds investors of the upcoming deadline to participate as a lead plaintiff in the securities fraud class action lawsuit filed on behalf of investors who acquired NET Power Inc. ('Net Power' or the 'Company') (NYSE: NPWR) securities between June 9, 2023 and March 7, 2025, inclusive (the 'Class Period'). IF YOU ARE AN INVESTOR WHO LOST MONEY ON NET POWER INC. (NPWR), CLICK HERE TO PARTICIPATE IN THE SECURITIES FRAUD LAWSUIT. What Happened? On November 14, 2023, before market hours, Net Power released its third quarter 2023 financial results, disclosing that due to 'tightness in the global supply chain,' it would be 'incorporating a 12-month cushion into [its] expected schedule' for its first utility-scale plant, Project Permian. The Company stated that it was 'now expecting to achieve initial power generation sometime between the second half of 2027 and first half of 2028,' compared to the initial schedule of having the plant operational by 2026. On this news, Net Power's stock price fell $2.47, or 18.5%, to close at $10.85 per share on November 14, 2023, thereby injuring investors. Then, on March 10, 2025, Net Power released its fourth quarter and full year 2024 financial results, disclosing the Company had 'finalized the Front-End Engineering and Design (FEED) for Project Permian' but the 'cost estimate was significantly higher than expected and, as a result, the Company has paused long-lead releases for the project.' Specifically, the Company revealed it is 'estimating total installed cost will be $1.7 billion to $2 billion.' On this news, Net Power's stock price fell $2.18, or 31.5%, to close at $4.75 per share on March 10, 2025. Then, on April 15, 2025, Net Power announced that its President and Chief Operating Officer and Chief Financial Officer would depart the Company. On this news, Net Power's stock price fell $0.13, or 5.8%, to close at $2.13 per share on April 16, 2025, thereby injuring investors further. What Is The Lawsuit About? 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) Net Power was unlikely to complete Project Permian on schedule, and the project was likely to be significantly more expensive than Defendants had represented, because of, inter alia, supply chain issues and numerous site- and region-specific challenges; (2) accordingly, Defendants' projections regarding the time and capital needed to complete Project Permian were unrealistic; (3) the increased time and capital needed to complete Project Permian were likely to have a significant negative impact on the Company's business and financial results; and (4) 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. If you purchased or otherwise acquired NET Power securities between June 9, 2023 and March 7, 2025, the deadline to seek appointment as the lead plaintiff in the securities fraud class action is June 17, 2025. Contact Us To Participate or Learn More: If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact us: Frank R. Cruz The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 Email us at: info@ Call us at: 310-914-5007 Visit our website at Follow us for updates on Twitter: If you inquire by email, please include your mailing address, telephone number, and number of shares purchased. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Business Wire
5 days ago
- Business
- Business Wire
NPWR Deadline: Rosen Law Firm Urges NET Power, Inc. (NYSE: NPWR) Stockholders with Losses in Excess of $100K to Contact the Firm for Information About Their Rights
NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, reminds investors that a shareholder filed a class action on behalf of purchasers of securities of NET Power, Inc. (NYSE: NPWR, between June 9, 2023 and March 7, 2025. NET Power is a clean energy technology company. For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653. The Allegations: Rosen Law Firm is Investigating the Allegations that NET Power, Inc. (NYSE: NPWR) Misled Investors Regarding its Business Operations. According to the lawsuit, throughout the Class Period, defendants made false and misleading statements and/or failed to disclose that: (1) NET Power was unlikely to complete Project Permian (NET's efforts to develop its first utility-scale plant) on schedule, and the project was likely to be significantly more expensive than defendants had represented, because of, inter alia, supply chain issues and numerous site- and region-specific challenges; (2) accordingly, defendants' projections regarding the time and capital needed to complete Project Permian were unrealistic; (3) the increased time and capital needed to complete Project Permian were likely to have a significant negative impact on NET's business and financial results; and (4) as a result, defendants' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. What Now: You may be eligible to participate in the class action against NET Power, Inc. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by June 17, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here. All representation is on a contingency fee basis. Shareholders pay no fees or expenses. About Rosen Law Firm: Some law firms issuing releases about this matter do not actually litigate securities class actions. Rosen Law Firm does. Rosen Law Firm is a recognized leader in shareholder rights litigation, dedicated to helping shareholders recover losses, improving corporate governance structures, and holding company executives accountable for their wrongdoing. Since its inception, Rosen Law Firm has obtained over $1 billion for shareholders. Follow us for updates on LinkedIn: on Twitter: or on Facebook: Attorney Advertising. Prior results do not guarantee a similar outcome.
Malaysian Reserve
5 days ago
- Business
- Malaysian Reserve
INVESTOR DEADLINE APPROACHING: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of NET Power
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In NET Power To Contact Him Directly To Discuss Their Options If you suffered losses exceeding $50,000 in NET Power between June 9, 2023 and March 7, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). [You may also click here for additional information] NEW YORK, June 15, 2025 /PRNewswire/ — Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against NET Power Inc. ('Net Power' or the 'Company') (NYSE: NPWR) and reminds investors of the June 17, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See As detailed below, 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) Net Power was unlikely to complete Project Permian on schedule, and the project was likely to be significantly more expensive than Defendants had represented, because of, inter alia, supply chain issues and numerous site- and region-specific challenges; (2) accordingly, Defendants' projections regarding the time and capital needed to complete Project Permian were unrealistic; (3) the increased time and capital needed to complete Project Permian were likely to have a significant negative impact on the Company's business and financial results; and (4) as a result, Defendants' public statements were materially false and misleading at all relevant times. On November 14, 2023, during pre-market hours, Net Power issued a press release announcing its third quarter 2023 results and providing a business update. Therein, the Company disclosed that '[d]ue to . . . tightness in the global supply chain, we are incorporating a 12-month cushion into our expected schedule for Project Permian' with Defendants 'now expecting to achieve initial power generation sometime between the second half of 2027 and first half of 2028.' This represented a significant delay from Defendants' initial schedule to have the plant operational by 2026. On this news, Net Power's stock price fell $2.47 per share, or 18.54%, to close at $10.85 per share on November 14, 2023. On March 10, 2025, during pre-market hours, Net Power issued a press release announcing its fourth quarter and full year 2024 results and providing a business update. Therein, Net Power disclosed 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-'which is inclusive of non-recurring first-of-a-kind, Project Permian site-specific and owner costs[,]' advising that 'there are a number of site- and region-specific challenges which impact cost.' The Company further advised that Project Permian 'would come online no earlier than 2029[,]' representing a significant delay from its prior timeline of sometime between the second half of 2027 and first half of 2028. In addition, Net Power reported that it ended 2024 'with $533 million in cash, cash equivalents, and investments, down from $580 million last quarter, primarily due to $13 million in operating cash outflows and $29 million in capital expenditures for La Porte upgrades and SN1 development.' On this news, Net Power's stock price fell $2.18 per share, or 31.46%, to close at $4.75 per share on March 10, 2025. Then, on April 15, 2025, Net Power issued a press release announcing that its President and Chief Operating Officer ('COO') and Chief Financial Officer would depart the Company on May 1, 2025, and that the Company had appointed a new COO, effective immediately. On this news, Net Power's stock price fell $0.13 per share, or 5.75%, to close at $2.13 per share on April 16, 2025. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may 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 a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding NET Powers' conduct to contact the firm, including whistleblowers, former employees, shareholders and others. To learn more about the NET Power class action, go to or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). Follow us for updates on LinkedIn, on X, or on Facebook. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
