Investigation into Nextracker: Deadline Alert for Investors

Faruqi & Faruqi, LLP has announced that it is looking into claims on behalf of investors of Nextracker Inc. (NXT), particularly those who suffered financial losses. Investors who incurred losses exceeding $75,000 between February 1, 2024 and August 1, 2024 are invited to reach out and discuss their legal options.

Investors can contact Josh Wilson, a partner at Faruqi & Faruqi, directly by calling 877-247-4292 or 212-983-9330 (Ext. 1310).

In addition, there is an important deadline approaching. The firm is investigating potential claims against Nextracker, and there is a February 25, 2025 deadline for investors to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the company.

Faruqi & Faruqi, LLP, which has multiple offices across the United States, has a solid track record of recovering substantial amounts for investors. Since its inception in 1995, the firm has secured hundreds of millions of dollars for clients.

The lawsuit alleges that Nextracker and its executives have breached federal securities laws by disseminating false and misleading statements. The key allegations include:

• The severity of project delays was not properly disclosed to investors, impacting the business and financial outlook of Nextracker.
• Permitting and interconnection delays significantly hampered Nextracker's ability to convert backlog into revenue at the historical rates.
• The company could not counteract these negative effects through increased client demand.
• Nextracker did not possess the claimed competitive advantages that were said to protect it from industry-wide challenges.
• As a result, the management’s positive statements about the company's performance lacked a reasonable foundation.

Significantly, on August 1, 2024, Nextracker disclosed a revenue decline from $737 million in the fourth fiscal quarter of 2024 to $720 million in the first fiscal quarter of 2025. Likewise, their GAAP gross profit decreased from $340 million to $237 million during the same period. This marked the first time Nextracker failed to raise guidance since going public, indicating a potential slowdown in growth.

As a direct response to this information, Nextracker's stock saw a significant decline of about 15% over two trading days.

In class action lawsuits, the court designates a lead plaintiff representing the interests of the group. Any class member can apply to serve as lead plaintiff with their chosen legal counsel. However, it's important to note that opting out of this role does not impact an individual's eligibility to participate in any recovery.

Faruqi & Faruqi, LLP also urges anyone who may have information regarding Nextracker's practices, including whistleblowers and former employees, to reach out.

For further details about the Nextracker class action, investors are encouraged to visit Nextracker Inc. or call Josh Wilson at 877-247-4292 or 212-983-9330 (Ext. 1310).

Stay updated by following on social media platforms such as LinkedIn or Twitter for the latest news regarding this investigation.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP. Past results do not guarantee or predict a similar outcome in future cases. All communications will be kept confidential.

investigation, lawsuit, Nextracker