{"id":45063,"date":"2024-01-07T19:45:06","date_gmt":"2024-01-07T19:45:06","guid":{"rendered":"https:\/\/news.pakistaninewspaperlist.com\/investor-lawsuit-alleges-nuscale-smr-concealed-facts-about-now-canceled-partnership-with-utah-power-systems-hagens-berman\/"},"modified":"2024-01-07T19:45:06","modified_gmt":"2024-01-07T19:45:06","slug":"investor-lawsuit-alleges-nuscale-smr-concealed-facts-about-now-canceled-partnership-with-utah-power-systems-hagens-berman","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/investor-lawsuit-alleges-nuscale-smr-concealed-facts-about-now-canceled-partnership-with-utah-power-systems-hagens-berman\/","title":{"rendered":"Investor Lawsuit Alleges NuScale (SMR) Concealed Facts About Now Canceled Partnership with Utah Power Systems – Hagens Berman"},"content":{"rendered":"
\n

SAN FRANCISCO, Jan. 07, 2024 (GLOBE NEWSWIRE) — Hagens Berman urges NuScale Power Corporation (NYSE: SMR) <\/strong>investors who suffered substantial losses to submit your losses now<\/a>.<\/p>\n

Class Period: <\/strong>Mar. 15, 2023 \u2013 Nov. 8, 2023
Lead Plaintiff Deadline: <\/strong>Jan. 16, 2024
Visit<\/strong>: www.hbsslaw.com\/investor-fraud\/SMR<\/a>
Contact An Attorney Now<\/strong>: SMR@hbsslaw.com<\/a>
\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0844-916-0895<\/strong><\/p>\n

NuScale Power Corporation (NYSE: SMR) Securities Fraud Class Action: <\/strong><\/p>\n

Nuclear expert Mycle Schneider recently weighed in on NuScale\u2019s stunning Nov. 8, 2023 announcement that it was cancelling its partnership with Utah power systems on a project that called for the development of six NuScale reactors at the U.S. Department of Energy\u2019s Idaho National Laboratory.<\/p>\n

In a recent interview with the Bulletin of the Atomic Scientists<\/em> published on Dec. 18, 2023, Schneider, the lead author of the \u201cWorld Nuclear Industry Status Report,\u201d was asked to explain the demise of the Idaho project. Schneider reportedly responded, \u201cWhat happened there is that NuScale had promised in 2008 that it would start generating power by 2015. We are now in 2023 and they haven\u2019t started construction of a single reactor. They have not even actually a certification license for the model that they\u2019ve been promoting in the Utah municipal conglomerate<\/em><\/strong>.\u201d (Emphasis added.)<\/p>\n

Schneider\u2019s comments come after the filing of a securities class action suit against NuScale and its executives stemming from the cancelled Idaho project. The complaint there alleges that Defendants failed to disclose that: (1) due to the inflationary impact on cost of construction and power, NuScale and UAMPS would be unable to sign up enough subscribers to fulfill the CFPP; and (2) Standard Power did not have the financial ability to support its agreement with NuScale.<\/p>\n

The complaint alleges that the fraud began to unravel on Oct. 19, 2023, when activist short seller Iceberg Research<\/em> published a scathing report about the company. As to NuScale\u2019s deal with the Utah Power systems, Iceberg<\/em> expressed concerns about constant cost overruns and questioned NuScale\u2019s ability to commercialize the deal due to the company\u2019s apparent undisclosed failure to meet contractual subscription rates. Iceberg<\/em> presciently concluded that \u201c[t]his contract has zero chance of being executed as Standard Power clearly does not have the means to support contracts of this size[]\u201d and opined about concerns relative to NuScale management integrity.<\/p>\n

NuScale\u2019s shares have lost nearly 70% of their value since going public at $10 per share in June 2022.<\/p>\n

If you invested in NuScale and have substantial losses, or have knowledge that may assist the firm\u2019s investigation, submit your losses now<\/a> \u00bb<\/p>\n

If you\u2019d like more information and answers to frequently asked questions about the NuScale case and our investigation, read more<\/a> \u00bb<\/a><\/p>\n

Whistleblowers: <\/strong>Persons with non-public information regarding NuScale should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895<\/strong> or email SMR@hbsslaw.com<\/a>.<\/p>\n

About Hagens Berman<\/a>
Hagens Berman is a global plaintiffs\u2019 rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at\u00a0hbsslaw.com<\/a>. Follow the firm for updates and news at\u00a0@ClassActionLaw<\/a>.\u00a0<\/p>\n

Attorney advertising.<\/strong>
Past results do not guarantee future outcomes.<\/strong>
Services may be performed by attorneys in any of our offices<\/strong>.\u00a0<\/p>\n

Contact: <\/u>
Reed Kathrein, 844-916-0895<\/p>\n

\n <\/div>\n","protected":false},"excerpt":{"rendered":"

SAN FRANCISCO, Jan. 07, 2024 (GLOBE NEWSWIRE) — Hagens Berman urges NuScale Power Corporation (NYSE: SMR) investors who suffered substantial losses to submit your losses now. Class Period: Mar. 15, 2023 \u2013 Nov. 8, 2023Lead Plaintiff Deadline: Jan. 16, 2024Visit: www.hbsslaw.com\/investor-fraud\/SMR Contact An Attorney Now: SMR@hbsslaw.com \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 […]<\/p>\n","protected":false},"author":2,"featured_media":45064,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/ml.globenewswire.com\/Resource\/Download\/51670c91-d369-4a8c-8102-d393de9f6d19","fifu_image_alt":"","footnotes":""},"categories":[208],"tags":[],"class_list":["post-45063","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-globenewswire"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/45063","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/comments?post=45063"}],"version-history":[{"count":0,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/45063\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media\/45064"}],"wp:attachment":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media?parent=45063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/categories?post=45063"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/tags?post=45063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}