INVESTOR DEADLINE APPROACHING: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of NET Power
If you suffered losses exceeding $50,000 in NET Power between June 9, 2023 and March 7, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
[You may also click here for additional information]
New York, New York--(Newsfile Corp. - June 8, 2025) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against NET Power Inc. ('Net Power' or the 'Company') (NYSE: NPWR) and reminds investors of the June 17, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
[ This image cannot be displayed. Please visit the source: https://images.newsfilecorp.com/files/6455/254808_f5874dd524bf9b11_001full.jpg ]
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Net Power was unlikely to complete Project Permian on schedule, and the project was likely to be significantly more expensive than Defendants had represented, because of, inter alia, supply chain issues and numerous site- and region-specific challenges; (2) accordingly, Defendants' projections regarding the time and capital needed to complete Project Permian were unrealistic; (3) the increased time and capital needed to complete Project Permian were likely to have a significant negative impact on the Company's business and financial results; and (4) as a result, Defendants' public statements were materially false and misleading at all relevant times.
On November 14, 2023, during pre-market hours, Net Power issued a press release announcing its third quarter 2023 results and providing a business update. Therein, the Company disclosed that "[d]ue to . . . tightness in the global supply chain, we are incorporating a 12-month cushion into our expected schedule for Project Permian' with Defendants 'now expecting to achieve initial power generation sometime between the second half of 2027 and first half of 2028.' This represented a significant delay from Defendants' initial schedule to have the plant operational by 2026.
On this news, Net Power's stock price fell $2.47 per share, or 18.54%, to close at $10.85 per share on November 14, 2023.
On March 10, 2025, during pre-market hours, Net Power issued a press release announcing its fourth quarter and full year 2024 results and providing a business update. Therein, Net Power disclosed that it 'now estimates Project Permian's total installed cost to be between $1.7 billion and $2.0 billion"-significantly higher than its last estimate of $1.1 billion-"which is inclusive of non-recurring first-of-a-kind, Project Permian site-specific and owner costs[,]' advising that 'there are a number of site- and region-specific challenges which impact cost.' The Company further advised that Project Permian 'would come online no earlier than 2029[,]' representing a significant delay from its prior timeline of sometime between the second half of 2027 and first half of 2028. In addition, Net Power reported that it ended 2024 'with $533 million in cash, cash equivalents, and investments, down from $580 million last quarter, primarily due to $13 million in operating cash outflows and $29 million in capital expenditures for La Porte upgrades and SN1 development.'
On this news, Net Power's stock price fell $2.18 per share, or 31.46%, to close at $4.75 per share on March 10, 2025.
Then, on April 15, 2025, Net Power issued a press release announcing that its President and Chief Operating Officer ('COO') and Chief Financial Officer would depart the Company on May 1, 2025, and that the Company had appointed a new COO, effective immediately.
On this news, Net Power's stock price fell $0.13 per share, or 5.75%, to close at $2.13 per share on April 16, 2025.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding NET Powers' conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the NET Power class action, go to www.faruqilaw.com/NPWR or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
Follow us for updates on LinkedIn, on X, or on Facebook.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( www.faruqilaw.com ). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/254808
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
31 minutes ago
- Yahoo
Nasdaq Hits Record While Bitcoin, Gold Remain Under Pressure After Latest Macro Data
Bitcoin BTC continues to consolidate in the $102,000 to $108,000 range and gold is lower by 2% today and roughly 7% from its record high. Meanwhile, the Nasdaq 100 has reached new all-time highs. A couple of U.S. macroeconomic data points Friday morning — though nearly two months old at this point — might have added to the modestly negative tone for BTC and gold. Personal income in May came in at -0.4%, falling short of the expected increase of 0.3%. Personal spending month over month printed at -0.1%, missing the forecast of a 0.1% increase. Maybe of more import to markets, the core PCE price index in the US, which excludes volatile food and energy prices and is the Federal Reserve's chosen gauge of underlying inflation, rose by 0.2% in May compared to expectations of a 0.1% increase. On a year-over-year basis, core PCE prices rose 2.7% versus 2.6% expected. This data further supports the view that the economy may be heading toward stagflation. Noted goldbug and no-coiner Peter Schiff: "Traders continue to sell gold even as this morning's release of weak economic data and stronger-than-expected inflation data pushed the dollar index to new lows. Stagflation and a tanking dollar are bullish for gold, regardless of any superficial trade deals 'negotiated' by Trump." Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
35 minutes ago
- Yahoo
1 Top Dow Dividend Stock to Buy for Passive Income in July
Chevron currently has a dividend yield above 4.5%. The oil giant has the lowest breakeven level in the industry and a fortress financial profile. It has plenty of fuel to continue increasing its dividend. 10 stocks we like better than Chevron › The Dow Jones Industrial Average tracks 30 of the most prominent companies in the country. These mature companies are very profitable, which allows many of them to pay generous dividends. The index currently has a 1.8% dividend yield, which is higher than the S&P 500's 1.3% and the Nasdaq-100's 0.8%. The Dow is fertile ground for those seeking dividend income. It holds several higher-yielding dividend stocks with an excellent track record of increasing their payouts. One that stands out for income seekers this July is Chevron (NYSE: CVX). Here's why it's a great Dow stock to buy this month for passive income. Chevron's dividend yield is currently over 4.5%. A high dividend yield can sometimes be a warning sign that the payout isn't sustainable. However, that's not the case with Chevron. The oil giant has built a highly resilient portfolio. The company's business currently has a breakeven level of around $30 per barrel, the lowest in the industry. With crude oil prices in the mid-$60s, Chevron is generating a substantial amount of free cash flow. It produced $15 billion in free cash flow last year after funding capital expenditures of $16.4 billion and another $3.7 billion in the first quarter of 2025. With its dividend costing $3 billion a quarter, Chevron has an ample cushion. Chevron also has an elite balance sheet. Its leverage ratio was a low 14% at the end of the first quarter. That's well below its 20%-25% target range and toward the low end of its peer group's range. The company's combination of a low breakeven level and fortress balance sheet puts Chevron's high-yielding dividend on a firm foundation. Chevron has been investing heavily in high-return capital projects, which are driving growth in its production and free cash flow. The company and its partners recently completed the Future Growth Project in Kazakhstan and the Ballymore project in the Gulf of Mexico, also known as the Gulf of America in the United States. It has more projects in the Gulf and the Eastern Mediterranean that should come online soon. In addition, the company is developing its assets in the Permian and DJ basins in the U.S. Chevron estimates that its current slate of growth projects puts it on track to add an incremental $9 billion in annual free cash flow by next year, assuming a $60 oil price. On top of that, the company is waiting to close its mega deal for Hess. It agreed to buy the fellow oil and gas producer in late 2023 for $60 billion. A dispute with ExxonMobil over Hess' stake in their lucrative development offshore Guyana is currently holding up the transaction. The case has gone to arbitration, with a ruling expected soon. Chevron is so confident it will win that it spent $2.2 billion to buy nearly 5% of Hess' outstanding shares on the open market earlier this year. Winning the case will allow it to close the needle-moving deal, which will extend its production and free cash flow growth outlook into the 2030s. Even if it loses its case and can't close that deal, Chevron has plenty of growth ahead. As a result, the company's dividend growth engine won't run out of gas. The oil giant has increased its payout for 38 consecutive years, a period spanning multiple commodity price cycles. The company has delivered peer-leading dividend growth over the past decade. Chevron currently offers investors an attractive dividend yield due to the uncertainty over the fate of its Hess acquisition and the volatility of commodity prices. However, the company has a highly resilient portfolio and a fortress financial profile, which puts its high-yielding dividend on rock-solid ground. Meanwhile, it has lots of fuel to grow, even if it can't close its deal for Hess. Those features make it a great Dow stock to buy this July for a lucrative and growing stream of passive dividend income. Before you buy stock in Chevron, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Chevron wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $699,558!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $976,677!* Now, it's worth noting Stock Advisor's total average return is 1,060% — a market-crushing outperformance compared to 180% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 30, 2025 Matt DiLallo has positions in Chevron. The Motley Fool has positions in and recommends Chevron. The Motley Fool has a disclosure policy. 1 Top Dow Dividend Stock to Buy for Passive Income in July was originally published by The Motley Fool Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
35 minutes ago
- Yahoo
Billionaire Warren Buffett's Favorite Valuation Tool Just Made Dubious History -- and It Couldn't Be Worse News for Wall Street
Warren Buffett's outsized investment returns at Berkshire Hathaway have made him Wall Street's most-followed money manager. Stocks are historically pricey, and the affably-named "Buffett Indicator" proves it. However, Buffett would never suggest betting against America and has positioned Berkshire's $296 billion investment portfolio and owned assets for long-term success. 10 stocks we like better than Berkshire Hathaway › For decades, billionaire Warren Buffett has been Wall Street's most-followed money manager -- and for good reason. In his six-decade stead as the CEO of Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B), the appropriately named "Oracle of Omaha" has overseen a cumulative return in his company's Class A shares (BRK.A) of 5,882,492%, through the closing bell on July 3. For context, this is over 140 times greater than the total return, including dividends, of the benchmark S&P 500 (SNPINDEX: ^GSPC) over 60 years. In addition to running circles around the S&P 500 over extended periods, Buffett's willingness to share his investment experiences and the traits he looks for in businesses has endeared him to the investing community. There's a reason around 40,000 people flock to Omaha annually to hear Berkshire's CEO offer remarks about the U.S. economy, stock market, and occasionally his company's investment holdings. But the unpleasant truth for Wall Street is that Buffett's words and/or actions don't always mesh with the buy-and-hold philosophy that's become synonymous with Berkshire Hathaway's nearly $296 billion investment portfolio. Worse yet, the valuation tool Berkshire's billionaire chief once held near and dear is making dubious history. To preface any discussion on valuation, let's recognize that "value" is something of a subjective term. What one person views as expensive might be considered a bargain by another. This perspective of value is what makes the stock market a market. When most investors are valuing a publicly traded company, they tend to rely on the price-to-earnings (P/E) ratio. This traditional valuation measure divides a company's share price by its trailing-12-month earnings per share. It's a quick way to size up mature businesses, but it's not the most accurate tool during economic downturns or for growth stocks. However, the traditional P/E ratio isn't, necessarily, the go-to valuation tool for billionaire Warren Buffett. In a rare interview granted to Fortune magazine in 2001, Berkshire's billionaire chief described the market cap-to-GDP ratio as, "probably the best single measure of where valuations stand at any given moment." This measure, which has come to be known as the "Buffett Indicator," adds up the value of all publicly traded companies and divides it by U.S. gross domestic product (GDP). When back-tested 55 years to 1970, the Buffett Indicator has averaged a reading of 85%. In other words, the cumulative value of publicly traded companies has equated to 85% of U.S. GDP. But as you can see from the post above on X (formerly Twitter), the Buffett Indicator has surged to a fresh all-time high. As of the closing bell on July 2, the Buffett Indicator hit 209.53%, which is roughly a 147% premium to its 55-year average. The implication here is very simple: Stocks are exceptionally pricey. When equities are pricey, the Oracle of Omaha has demonstrated a willingness to pare down Berkshire Hathaway's exposure and/or sit on his proverbial hands until attractive deals reveal themselves. Perhaps unsurprisingly, Berkshire's consolidated quarterly cash flow statements show Buffett has been a net seller of stocks for 10 consecutive quarters (Oct. 1, 2022 – March 31, 2025), totaling an aggregate of $174.4 billion. In fact, Buffett is such a stickler for getting a good deal that he's gone cold turkey on repurchasing shares of his favorite stock (Berkshire Hathaway) for three consecutive quarters. The Buffett Indicator surging to almost 210% is terrible news for Wall Street in the sense that it signals value is becoming increasingly hard to come by. It also suggests Berkshire's brightest investment mind is going to continue to sit on his company's record-breaking cash pile of $347.7 billion (including U.S. Treasuries). Getting a perceived deal when buying a company or taking a stake in a publicly traded business is an absolute must for billionaire Warren Buffett. But this isn't the only unbendable rule he lives by. Even when stock valuations are historically unappealing, Berkshire's head honcho has no intention of ever better against Wall Street or America. In Berkshire Hathaway's 2021 annual letter to shareholders, Buffett penned: Despite some severe interruptions, our country's economic progress has been breathtaking. Our unwavering conclusion: Never bet against America. These four words, "never bet against America," signal Buffett's recognition of economic and stock market cycles, and his genius of positioning his company to take advantage of a simple numbers game. Berkshire's chief and his top investment advisors are well aware that economic recessions are normal, healthy, and inevitable. But most importantly, Buffett recognizes the nonlinearity of economic cycles. Whereas the average U.S. recession has endured for just 10 months since the end of World War II, the typical economic expansion has stuck around for approximately five years. The disproportionate nature of these cycles has allowed U.S. GDP to meaningfully expand over time. Perhaps it's no surprise that Berkshire's investment portfolio and the roughly five dozen companies that have been acquired since Buffett became CEO tend to be highly cyclical and benefit immensely from long-winded periods of economic growth. The Oracle of Omaha also realizes that this nonlinearity applies to the stock market. Even though downturns are inevitable, they usually resolve quickly. In June 2023, a data set published on X from Bespoke Investment Group showed the average S&P 500 bear market since the start of the Great Depression (September 1929) lasted only 286 calendar days, or about 9.5 months. In comparison, the typical S&P 500 bull market endured for 1,011 calendar days over this nearly 94-year-period. Wagering on high-quality companies to increase in value over time is a statistically smart move. While a historically high Buffett Indicator is nothing short of damning to Wall Street over the short-term, an eventual correction or bear market will give way to phenomenal investment opportunities -- and Buffett or his successor Greg Abel will be there to take advantage of them. Before you buy stock in Berkshire Hathaway, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Berkshire Hathaway wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $699,558!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $976,677!* Now, it's worth noting Stock Advisor's total average return is 1,060% — a market-crushing outperformance compared to 180% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 30, 2025 Sean Williams has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Berkshire Hathaway. The Motley Fool has a disclosure policy. Billionaire Warren Buffett's Favorite Valuation Tool Just Made Dubious History -- and It Couldn't Be Worse News for Wall Street was originally published by The Motley Fool
