Security Investigation
Nextracker Inc. (NasdaqGS: NXT)
39 Days left to seek lead plaintiff status.
Contact a Lawyer Now
Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until February 25, 2025 to file lead plaintiff applications in a securities class action lawsuit against Nextracker Inc. (the “Company”) (NasdaqGS: NXT).
Nextracker and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On August 1, 2024, the Company announced its results for the first fiscal quarter ended June 30, 2024, disclosing that revenue had declined sequentially from $737 million in the fourth fiscal quarter of 2024 to $720 million during the first fiscal quarter of 2025, and that GAAP gross profit had declined sequentially from $340 million in the fourth fiscal quarter of 2024 to $237 million during the first fiscal quarter of 2025.
On this news, the price of Nextracker shares fell approximately 15% over two trading days, from $46.83 per share when the market closed on August 1, 2024 to $39.81 per share when the market closed on August 5, 2024, on abnormally high volume.
If you purchased shares of Nextracker and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or fill out the form on this page.
The case is Weber v. Nextracker Inc., No. 24-cv-09467.