NuScale Power Corporation Class Action Lawsuit – SMR

The filed complaint alleges that NuScale Power Corporation made materially false and/or misleading statements and/or failed to disclose that: (a) ENTRA1 Energy LLC (“ENTRA1”) had never built, financed, or operated any significant projects – let alone projects in the highly technical and complicated field of nuclear power generation – during its entire operating history; (b) NuScale had entrusted its commercialization, distribution, and deployment of its NuScale Power Modules and hundreds of millions of dollars of Company capital to an entity that lacked any significant prior experience owning, financing, or operating nuclear energy generation facilities; (c) the purported experience and qualifications attributed to ENTRA1 by defendants during the Class Period in fact referred to the purported experience and qualifications of the principals of the Habboush Group, a distinct entity without significant experience in the field of nuclear power generation; and (d) as a result of (a)-(c) above, NuScale’s commercialization strategy was exposed to material, undisclosed risks of failure, delays, regulatory challenges, or other negative setbacks.