| COMPANY |
Nextracker Inc. |
| COURT |
United States District Court for the Northern District of California |
| CASE NUMBER |
24-cv-9467 |
| JUDGE |
Honorable Patrick Casey Pitts |
| CLASS PERIOD |
February 1, 2024, through August 1, 2024 |
| SECURITY TYPE |
Common Stock |
Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired Nextracker Inc. (“Nextracker”) (NASDAQ: NXT) common stock between May 14, 2024 and August 1, 2024, inclusive (the “Class Period”).
The complaint 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 misrepresented and/or failed to disclose that: (1) project delays in the solar tracking industry were causing instability; (2) it was known that the project delays as a result of the interconnection queue and permitting delays were lengthening; (3) these further delays would have a material impact on Nextracker’s business and ability to convert backlog into revenue; and (4) as a result, Defendants’ statements about Netracker’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Current Status of Case:
Defendants filed a Motion to Dismiss the Amended Complaint on August 8, 2025. This action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.