Latest news with #NetPower
Associated Press
6 days ago
- Business
- Associated Press
Pomerantz Law Firm Announces the Filing of a Class Action Against NET Power Inc. and Certain Officers
NEW YORK, June 02, 2025 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against NET Power Inc. ('Net Power' or the 'Company') (NYSE: NPWR) and certain officers. The class action, filed in the United States District Court for the Middle District of North Carolina, and docketed under 25-cv-00296, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Net Power securities between June 9, 2023 and March 7, 2025, both dates inclusive (the 'Class Period'), seeking to recover damages caused by Defendants' 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 'Exchange Act') and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials. If you are an investor who purchased or otherwise acquired Net Power securities during the Class Period, you have until June 17, 2025, to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at To discuss this action, contact Danielle Peyton at [email protected] 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. [Click here for information about joining the class action] Net Power is a clean energy technology company. Its business is centered around its so-called 'Net Power Cycle' technology, which is a purported novel power generation system designed to produce reliable and affordable electricity from natural gas while capturing virtually all atmospheric emissions. Net Power has a facility located in La Porte, Texas, which it uses to demonstrate the viability of the NET Power Cycle, referred to as 'La Porte' or the 'Demonstration Plant.' Net Power conducts research and equipment validation testing campaigns at the Demonstration Plant as part of its efforts to develop its first utility-scale plant, which it variably refers to as 'SN1' or 'Project Permian.' Project Permian is located at a site in the Permian Basin of West Texas. Since before the start of the Class Period, Defendants had represented that they anticipated SN1 to be operational in 2026. In 2023, Net Power's cost estimate for Project Permian was roughly $950 million, which increased to $1.1 billion in 2024. Net Power's commencement of commercial operations and, accordingly, its business and financial prospects, rely on its completion of Project Permian. As such, Defendants' projected timelines and cost estimates for Project Permian are of particular importance to investors and analysts. The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) 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; (ii) accordingly, Defendants' projections regarding the time and capital needed to complete Project Permian were unrealistic; (iii) 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 (iv) 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. 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 Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT: Danielle Peyton Pomerantz LLP [email protected] 646-581-9980 ext. 7980
Business Upturn
15-05-2025
- Business
- Business Upturn
Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Ibotta, NET Power, Zenas BioPharma, and BigBear and Encourages Investors to Contact the Firm
NEW YORK, May 14, 2025 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Ibotta, Inc. (NYSE:IBTA), NET Power, Inc. (NYSE:NPWR), Zenas BioPharma, Inc. (NASDAQ:ZBIO) and Holdings, Inc. (NYSE:BBAI). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided. Ibotta, Inc. (NYSE:IBTA) Class Period: In connection with Ibotta's April 18, 2024 initial public offering Lead Plaintiff Deadline: June 16, 2025 The Complaint alleges that in connection with the Initial Public Offering on April 18, 2024, Ibotta issued a registration statement that contained false and/or misleading statements or omissions. Specifically, the Complaint alleges that: (1) The registration statement failed to warn investors of the risks concerning Ibotta's contract with The Kroger Co. ('Kroger'); (2) Kroger's contract was at-will, and Ibotta failed to warn investors that a large client could cancel their contract with Ibotta without warning. Despite providing a detailed explanation of the terms of Ibotta's contract with another large customer, there was not a single warning of the at-will nature of Kroger's contract; (3) Rather than disclosing the very real risk of a major client walking away at any time, Ibotta provided boilerplate warnings concerning the importance of maintaining ongoing relationships with their clients; (4) By August 13, 2024, Kroger was no longer listed as a client in Ibotta's SEC filings; and (5) The price of Ibotta's securities has plummeted since the IPO, devastating investors. Currently, Ibotta stock trades significantly lower than the IPO price of $88.00 per share. For more information on the Ibotta class action go to: NET Power, Inc. (NYSE:NPWR) Class Period: June 9, 2023 – March 7, 2025 Lead Plaintiff Deadline: June 17, 2025 Net Power is a clean energy technology company. Its business is centered around its so-called 'Net Power Cycle' technology, which is a purported novel power generation system designed to produce reliable and affordable electricity from natural gas while capturing virtually all atmospheric emissions. Net Power has a facility located in La Porte, Texas, which it uses to demonstrate the viability of the NET Power Cycle, referred to as 'La Porte' or the 'Demonstration Plant.' Net Power conducts research and equipment validation testing campaigns at the Demonstration Plant as part of its efforts to develop its first utility-scale plant, which it variably refers to as 'SN1' or 'Project Permian.' Project Permian is located at a site in the Permian Basin of West Texas. Since before the start of the Class Period, Defendants had represented that they anticipated SN1 to be operational in 2026. In 2023, Net Power's cost estimate for Project Permian was roughly $950 million, which increased to $1.1 billion in 2024. Net Power's commencement of commercial operations and, accordingly, its business and financial prospects, rely on its completion of Project Permian. As such, Defendants' projected timelines and cost estimates for Project Permian are of particular importance to investors and analysts. The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) 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; (ii) accordingly, Defendants' projections regarding the time and capital needed to complete Project Permian were unrealistic; (iii) 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 (iv) as a result, Defendants' public statements were materially false and misleading at all relevant times. For more information on the NET Power class action go to: Zenas BioPharma, Inc. (NASDAQ:ZBIO) Class Period: Pursuant and/or traceable to the registration statement and related prospectus issued in connection with Zenas BioPharma's September 2024 initial public offering Lead Plaintiff Deadline: June 16, 2025 The Complaint alleges that the Registration Statement issued in connection with the Company's initial public offering (the 'IPO' or 'Offering') contained false and/or misleading statements and/or failed to disclose that: (1) Zenas BioPharma materially overstated the amount of time that it would be able to fund its operations using existing cash and expected net proceeds from the IPO; and (2) as a result, Defendants public statements were materially false and misleading at all relevant times and negligently prepared. For more information on the Zenas BioPharma class action go to: Holdings, Inc. (NYSE:BBAI) Class Period: March 31, 2022 – March 25, 2025 Lead Plaintiff Deadline: June 10, 2025 The lawsuit alleges that Defendants made materially false and/or misleading statements, and/or failed to disclose material adverse facts regarding business, operations, and prospects, including allegations that: (i) BigBear maintained deficient accounting review policies related to the reporting and disclosure of certain non-routine, unusual, or complex transactions; (ii) as a result, the Company incorrectly determined that the conversion option within the 2026 Convertible Notes qualified for the derivative scope exception under ASC 815-40 and failed to bifurcate the conversion option as required by ASC 815-15; (iii) accordingly, BigBear had improperly accounted for the 2026 Convertible Notes; (iv) the foregoing error caused BigBear to misstate various items in several of the Company's previously issued financial statements; (v) as a result, these financial statements were inaccurate and would likely need to be restated; (vi) BigBear would require extra time and expense to correct the inaccurate financial statements, thereby increasing the risk that the Company would be unable to timely file certain financial reports with the SEC; and (vii) as a result, the Company's public statements were materially false and misleading at all relevant times. For more information on the BigBear class action go to: About Bragar Eagel & Squire, P.C.: Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit . Attorney advertising. Prior results do not guarantee similar outcomes. Contact Information: Bragar Eagel & Squire, Walker, Esq. Marion Passmore, Esq.(212) 355-4648 [email protected]
Business Wire
12-05-2025
- Business
- Business Wire
Net Power Reports First Quarter 2025 Results and Provides Business Update
BUSINESS WIRE)--Net Power Inc. (NYSE: NPWR) ('Net Power' or the 'Company') today announced its financial and operational results for the first quarter ended March 31, 2025. Maintained strong liquidity: Exited the quarter with over $500 million in cash, cash equivalents and investments, which are expected to fund technology development and testing for the Company's proprietary clean power plant design. Continued Project Permian's (SN1) cost reduction initiative: At Project Permian, Net Power's planned first-of-a-kind commercial-scale facility, post-FEED work is ongoing to identify potential cost savings to deliver a financeable first commercial project. The Company is prudently advancing low-cost, project related activities, such as permitting and community engagement, while integrating advanced engineering solutions into project development to enhance overall efficiency. Progressed modular multi-unit feasibility study: Continued an advanced design and engineering study for a standardized, modular multi-unit plant to further reduce future project costs and meet market demand for larger generation capacity, with a goal of establishing a credible pathway to deliver a highly competitive levelized cost of energy (LCOE). Advanced the equipment validation testing at La Porte demonstration facility: Both Phases 1 and 2 are expected to be completed in 2025, in line with prior expectations. Despite unplanned downtime for site repairs, which are currently underway, Phase 1 testing is expected to resume in the second quarter. Preparations are underway for testing Phases 3 and 4, expected to be completed in 2026 and 2027 utilizing existing balance sheet capital. 'With our refreshed leadership team and highly talented workforce, we continue to make progress every day to deliver clean, firm power ahead of the competition,' said Danny Rice, President & Chief Executive Officer of Net Power. 'I'm especially pleased with the early progress we've made identifying potential cost reductions for Project Permian that should help counter the inflationary pressures seen across the entire power sector. Our liquidity position is expected to carry us through testing at our La Porte demonstration facility, uniquely positioning Net Power to be one of the few solutions available this decade to meet the world's growing need for clean, reliable power.' Conference Call Net Power will host a conference call to share first quarter 2025 results and related matters beginning at 8:30 AM ET on Tuesday, May 13. To access the live audio webcast of the conference call, please visit Net Power's investor relations website at To participate by phone, dial 877-407-8014 (domestic) or +1 201-689-8053 (international). An archived webcast will be available following the call. About Net Power Net Power (NYSE: NPWR) is an energy technology company developing its proprietary Net Power Cycle, which transforms natural gas into clean, reliable and affordable power. The Company is on a mission to deploy its utility-scale plants across the world by partnering with electricity generators, energy producers, technology providers, local communities, and other stakeholders. Net Power was founded in 2010 and has offices in Durham, North Carolina (HQ) and Houston, Texas. Cautionary Note Regarding Forward-Looking Statements and Projections Certain statements in this release may constitute 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, each as amended. Forward-looking statements provide current expectations of future events and include any statement that does not directly relate to any historical or current fact. Words such as 'anticipates,' 'believes,' 'expects,' 'intends,' 'plans,' 'projects,' or other similar expressions may identify such forward-looking statements. Forward-looking statements may relate to the development of Net Power's technology, the anticipated demand for Net Power's technology and the markets in which Net Power operates, the timing of the deployment of plant deliveries, and Net Power's business strategies, capital requirements, potential growth opportunities and expectations for future performance (financial or otherwise). Forward-looking statements are based on current expectations, estimates, projections, targets, opinions and/or beliefs of the Company, and such statements involve known and unknown risks, uncertainties and other factors. Actual results may differ materially from those discussed in forward-looking statements as a result of factors, risks and uncertainties over which Net Power has no control. These factors, risks and uncertainties include, but are not limited to, the capital-intensive nature of Net Power's business model, which will likely require Net Power to raise additional capital in the future; Net Power's ability to adequately control or accurately predict the costs associated with its projects and the development and deployment of its technology; barriers that Net Power may face in its attempts to deploy and commercialize its technology; the complexity of the machinery Net Power relies on for its operations and development; potential changes and/or delays in site selection and construction that result from regulatory, logistical, and financing challenges; Net Power's ability to establish and maintain supply relationships; risks related to Net Power's arrangements with third parties for the development, commercialization and deployment of its technology; risks related to strategic investors and partners; Net Power's ability to successfully commercialize its operations; the availability and cost of raw materials; the impact of potential delays in discovering manufacturing and construction issues; the possibility of damage to Net Power's facilities as a result of natural disasters; the ability of commercial plants using Net Power's technology to efficiently provide net power output; Net Power's ability to obtain and retain licenses; Net Power's ability to establish an initial commercial scale plant; governmental regulations or actions; legal proceedings; and other risks and uncertainties described under the headings 'Risk Factors' and 'Cautionary Note Regarding Forward-Looking Statements' in Net Power's Annual Report on Form 10-K for the year ended December 31, 2024, its subsequent quarterly reports on Form 10-Q, and in its other filings made with the SEC from time to time, which are available via the SEC's website at Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Net Power assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Net Power does not give any assurance that it will achieve its expectations.
Malaysian Reserve
07-05-2025
- Business
- Malaysian Reserve
INVESTOR ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of NET Power
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In NET Power To Contact Him Directly To Discuss Their Options If you purchased or acquired securities 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, May 7, 2025 /PRNewswire/ — 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. 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 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 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 ( 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. View original content to download multimedia: SOURCE Faruqi & Faruqi, LLP
Malaysian Reserve
05-05-2025
- Business
- Malaysian Reserve
NPWR Investors Have Opportunity to Lead NET Power Inc. Securities Fraud Lawsuit with the Schall Law Firm
LOS ANGELES, May 5, 2025 /PRNewswire/ — The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against NET Power Inc. ('Net Power' or 'the Company') (NYSE: NPWR) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Investors who purchased the Company's securities between June 9, 2023 and March 7, 2025, inclusive (the 'Class Period'), are encouraged to contact the firm before June 17, 2025. If you are a shareholder who suffered a loss, click here to participate. We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at or by email at bschall@ The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member. According to the Complaint, the Company made false and misleading statements to the market. Net Power was unlikely to complete Project Permian on time and on budget due to supply chain issues and multiple issues specific to the site and region. The Company's projections about the time and financial resources required to complete Project Permian were not based in reality. The Company's financial results and business would be negatively impacted by the delays and cost overruns associated with Project Permian. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Net Power, investors suffered damages. Join the case to recover your losses. The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics. CONTACT: The Schall Law FirmBrian Schall, Esq., 310-301-3335info@
