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Allegations
The filed complaint alleges that NuScale Power Corporation made materially false and/or misleading statements and/or failed to disclose that: (1) because of the effect of inflationary pressures on the cost of construction and power, the Company and Utah Associated Municipal Power Systems would be unable to sign up enough subscribers to fulfill the Carbon Free Power Project; (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.