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NEXTRACKER SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: KAHN SWICK & FOTI, LLC REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Nextracker Inc. - NXT
NEW ORLEANS, Feb. 18, 2025 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC (“KSF”) a...
About this update from Nextgen Digital Platforms, Inc.
[{"type":"text","content":"NEXTRACKER SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: KAHN SWICK & FOTI, LLC REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Nextracker Inc. - NXT\n\n\n\n NEW ORLEANS, Feb. 18, 2025 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until\n \n\n February 25, 2025\n \n\n to file lead plaintiff applications in a securities class action lawsuit against Nextracker Inc. (the “Company”) (NasdaqGS: NXT), if they purchased the Company’s shares between February 1, 2024 and August 1, 2024, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of California.\n \n\n What You May Do\n \n\n 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 ([email protected]), or visit\n \n https://www.ksfcounsel.com/cases/nasdaqgs-nxt/\n \n to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by\n \n\n February 25, 2025\n \n\n .\n \n\n About the Lawsuit\n \n\n Nextracker and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.\n \n\n 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.\n \n\n 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.\n \n\n The case is\n \n Weber v. Nextracker Inc.\n \n , No. 24-cv-09467.\n \n...