{"id":74627,"date":"2024-03-23T20:37:16","date_gmt":"2024-03-23T20:37:16","guid":{"rendered":"https:\/\/pakistaninewspaperlist.com\/news\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-sunnova-energy-international-inc-of-class-action-lawsuit-and-upcoming-deadlines-nova\/"},"modified":"2024-03-23T20:37:16","modified_gmt":"2024-03-23T20:37:16","slug":"shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-sunnova-energy-international-inc-of-class-action-lawsuit-and-upcoming-deadlines-nova","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-sunnova-energy-international-inc-of-class-action-lawsuit-and-upcoming-deadlines-nova\/","title":{"rendered":"SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Sunnova Energy International Inc. of Class Action Lawsuit and Upcoming Deadlines \u2013 NOVA"},"content":{"rendered":"
\n

NEW YORK, March 23, 2024 (GLOBE NEWSWIRE) — Pomerantz LLP announces that a class action lawsuit has been filed against Sunnova Energy International Inc. (\u201cSunnova\u201d or the \u201cCompany\u201d) (NYSE: NOVA) and certain officers. The class action, filed in the United States (\u201cU.S.\u201d) District Court for the Southern District of Texas, and docketed under 24-cv-00569, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Sunnova securities between February 25, 2020 and December 7, 2023, both dates inclusive (the \u201cClass Period\u201d), seeking to recover damages caused by Defendants\u2019 violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the \u201cExchange Act\u201d) and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials.<\/p>\n

If you are a shareholder who purchased or otherwise acquired Sunnova securities during the Class Period, you have until April 16, 2024 to ask the Court to appoint you as Lead Plaintiff for the class.\u00a0 A copy of the Complaint can be obtained at www.pomerantzlaw.com<\/u><\/a>. To discuss this action, contact Danielle Peyton at newaction@pomlaw.com<\/u><\/a> or 646-581-9980 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.\u00a0<\/p>\n

[Click here for information about joining the class action]<\/u><\/strong><\/a><\/p>\n

Sunnova provides energy as a service in the U.S. The Company offers electricity, as well as offers operations and maintenance, monitoring, repairs and replacements, equipment upgrades, on-site power optimization, and diagnostics services. As of October 2023, the Company operated a fleet of residential solar energy systems purportedly serving over 386,000 customers.<\/p>\n

In September 2023, Sunnova entered into a $3.0 billion partial loan guarantee agreement with the U.S. Department of Energy\u2019s (\u201cDOE\u201d) Loan Programs Office (\u201cLPO\u201d) to support solar loans originated by Sunnova under a new solar loan channel named Project Hestia (the \u201cLPO Loan\u201d). In a press release detailing the LPO Loan, Sunnova stated that Project Hestia was expected to \u201cprovide disadvantaged homeowners and communities with increased access to clean, flexible power via Sunnova services by indirectly and partially guaranteeing the cash flows associated with consumers\u2019 loans\u201d and that Sunnova\u2019s \u201cpurpose-built technology\u201d was \u201cdesigned to improve customer insights regarding their power usage and will facilitate demand response behavior.\u201d<\/p>\n

The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company\u2019s business, operations, and prospects.\u00a0 Specifically, Defendants made false and\/or misleading statements and\/or failed to disclose that: (i) Sunnova routinely engaged in predatory business practices against disadvantaged homeowners and communities, the same groups that Project Hestia was purportedly intended to benefit; (ii) the foregoing conduct subjected the Company to a heightened risk of regulatory and\/or governmental scrutiny, as well as significant reputational and\/or financial harm; and (iii) as a result, the Company\u2019s public statements were materially false and misleading at all relevant times.<\/p>\n

On November 22, 2023, the Washington Free Beacon published an article entitled \u201cBiden Admin Gave $3 Billion Loan to Solar Company Accused of Scamming Elderly.\u201d The article revealed that several consumer complaints had been brought against the Company for issues ranging from maintenance delays to predatory sales tactics used against elderly homeowners.<\/p>\n

Then, on December 8, 2023, Representative Cathy McMorris Rodgers, Chair of the U.S. House Committee on Energy and Commerce, and Senator John Barrasso, ranking member of the U.S. Senate Committee on Energy and Natural Resources, sent a letter to the DOE and Sunnova seeking information related to the LPO Loan and Project Hestia following the release of the \u201cdisturbing\u201d reports regarding the Company. Specifically, the letter requested additional information regarding the LPO\u2019s awareness of and treatment of Sunnova\u2019s allegedly predatory business practices.<\/p>\n

On this news, Sunnova\u2019s stock price fell $2.00 per share, or 16.12%, to close at $10.41 per share on December 8, 2023.<\/p>\n

As a result of Defendants\u2019 wrongful acts and omissions, and the precipitous decline in the market value of the Company\u2019s securities, Plaintiff and other Class members have suffered significant losses and damages.<\/p>\n

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com<\/u><\/a>.<\/p>\n

Attorney advertising. \u00a0Prior results do not guarantee similar outcomes.<\/p>\n

CONTACT:<\/strong><\/p>\n

Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com<\/u><\/a>
<\/a>646-581-9980 ext. 7980<\/p>\n

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

NEW YORK, March 23, 2024 (GLOBE NEWSWIRE) — Pomerantz LLP announces that a class action lawsuit has been filed against Sunnova Energy International Inc. (\u201cSunnova\u201d or the \u201cCompany\u201d) (NYSE: NOVA) and certain officers. The class action, filed in the United States (\u201cU.S.\u201d) District Court for the Southern District of Texas, and docketed under 24-cv-00569, is […]<\/p>\n","protected":false},"author":2,"featured_media":74628,"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\/media\/ZjdlYTAwY2ItOTcyNS00MTIyLTlkZDEtNDc0ZjgyZmI0MDZiLTEwMjkyMTc=\/tiny\/Pomerantz-LLP.png","fifu_image_alt":"","footnotes":""},"categories":[208],"tags":[],"class_list":["post-74627","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\/74627","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=74627"}],"version-history":[{"count":0,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/74627\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media\/74628"}],"wp:attachment":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media?parent=74627"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/categories?post=74627"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/tags?post=74627"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}