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For more than 30 years, Cabling Installation & Maintenance has provided useful, practical information to professionals responsible for the specification, design, installation and management of structured cabling systems serving enterprise, data center and other environments. These professionals are challenged to stay informed of constantly evolving standards, system-design and installation approaches, product and system capabilities, technologies, as well as applications that rely on high-performance structured cabling systems. Our editors synthesize these complex issues into multiple information products. This portfolio of information products provides concrete detail that improves the efficiency of day-to-day operations, and equips cabling professionals with the perspective that enables strategic planning for networks’ optimum long-term performance.

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Law Offices of Frank R. Cruz Encourages Nextracker Inc. (NXT) Investors To Inquire About Securities Fraud Class Action

The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of investors who purchased Nextracker Inc. (“Nextracker” or the “Company”) (NASDAQ: NXT) common stock between February 1, 2024 and August 1, 2024, inclusive (the “Class Period”). Nextracker investors have until February 25, 2025 to file a lead plaintiff motion.

IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN NEXTRACKER INC. (NXT), CLICK HERE TO CONTACT THE LAW OFFICES OF FRANK R. CRUZ TO PARTICIPATE IN THE ONGOING SECURITIES FRAUD LAWSUIT.

You can also contact the Law Offices of Frank R. Cruz to discuss your legal rights by email at info@frankcruzlaw.com, by telephone at (310) 914-5007, or visit our website at www.frankcruzlaw.com.

What Happened?

On August 1, 2024, Nextracker released its first quarter fiscal 2025 financial results, revealing a significant decline in revenue and GAAP gross profit, stating that it was “taking longer for projects to be fulfilled [due to] construction permits or interconnection delays.”

On this news, Nextracker’s stock price fell $7.02, or 15%, over two consecutive trading days to close at $39.81 per share on August 5, 2024, thereby injuring investors.

Then, on October 30, 2024, Nextracker released its second quarter fiscal 2025 financial results, disclosing further decline of revenue and profit, thereby injuring investors further.

What Is The Lawsuit About?

The complaint filed in this class action 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 failed to disclose to investors: (1) that the impact of project delays on Nextracker’s business, financial results, and prospects was far more severe than represented to investors; (2) that permitting and interconnection delays had materially impaired Nextracker’s ability to convert backlog into revenue at historical conversion rates; (3) that Nextracker had been unable to offset the negative impact from project delays through increased client demand and the purported ability to pull forward its other projects in the manner represented by defendants; (4) that Nextracker did not possess the competitive advantages which purportedly shielded it from industry-wide headwinds or the ability to effectively offset the adverse effects of project delays as claimed by defendants; and (5) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

Contact Us To Participate or Learn More:

If you purchased Nextracker common stock, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us at:

Law Offices of Frank R. Cruz

212 Avenue of the Stars, Suite 800

Telephone: 310-914-5007

Email: info@frankcruzlaw.com

Visit our website at: www.frankcruzlaw.com

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

The Law Offices of Frank R. Cruz Encourages Nextracker Inc. (NXT) Investors To Inquire About Securities Fraud Class Action

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