Pomerantz Law Firm Announces The Filing of a Class Action Against NuScale Power Corporation and Certain Officers - SMR
NEW YORK CITY, NY / ACCESS Newswire / November 11, 2026 / Pomerantz LLP announces that a class action lawsuit has been filed against NuScale Power Corporation ("NuScale " or the "Company") (NYSE:SMR) and certain officers. The class action, filed in the United States District Court for the District of Oregon, Portland Division, and docketed under 26-cv-02483, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired NuScale securities between February 27, 2026 and September 10, 2026, 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 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 NuScale securities during the Class Period, you have until January 11, 2027, to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. 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]
NuScale purports to redefine nuclear power through the development of proprietary small module reactors ("SMRs") and associated technology that purportedly will deliver safe, scalable, cost-effective, and reliable carbon-free power. NuScale's self-described "core technology" is the Light Water Nuclear Reactor NuScale Power Module™ ("NPM").
At all relevant times, Defendants represented that NuScale enjoyed a competitive advantage as "the industry's first mover".
Moreover, at all relevant times, Defendants represented that NuScale "has been working with one customer and one prospective customer." The Company's customer is RoPower Nuclear S.A. ("RoPower"), a joint venture established by, inter alia, S.N. Nuclearelectrica S.A. ("Nuclearelectrica"), a Romanian national energy company. NuScale conducted its work for RoPower as a subcontractor to Fluor Enterprises, Inc., a related party to NuScale.
The Company's prospective customer is ENTRA1 Energy, LLC ("ENTRA1"), NuScale's "exclusive global strategic partner for commercialization and development of power plants utilizing NPMs." Defendants frequently touted a non-binding agreement between ENTRA1 and the Tennessee Valley Authority ("TVA") to deploy up to 6 gigawatts of power from NuScale's SMRs. Defendants also frequently represented that ENTRA1 and the TVA were progressing toward entering a purchase power agreement with the TVA, a necessary step before NuScale could generate revenue from any work for the TVA. RoPower was the Company's only customer and ENTRA1 was its only prospective customer.
On February 12, 2026, Nuclearelectrica announced that its shareholders had approved a final investment decision ("FID") for its small modular reactors project in Doiceşti, Romania (the "RoPower Project"), clearing the way for Nuclearelectrica to move "from the analysis phase to the implementation phase". In its announcement, Nuclearelectrica also stated that the FID was "based on a series of additional conditions" that it would have to satisfy.
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) Defendants overstated NuScale's purported "first mover" competitive advantage; (ii) Defendants overstated NuScale's ability to generate revenue from either the RoPower Project or any work for the TVA; (iii) the Company's commercial prospects, including its remaining cash runway, were therefore likewise overstated; and (iv) as a result, Defendants' public statements were materially false and misleading at all relevant times.
The truth began to emerge on September 11, 2026, when UBS downgraded NuScale from "Neutral" to "Sell" and lowered its price target from $10 to $6. UBS opined that NuScale was rapidly losing its "first-mover" advantage in SMR technology to faster-moving competitors. UBS also flagged a lengthy five-year build timeline, a critical lack of firm customer commitments, and projected a massive $700 million in negative free cash flow between 2026 and 2028. The report also described stagnating progress regarding NuScale's RoPower Project and the risk that the TVA would not ultimately move forward with NuScale.
On this news, NuScale's stock price fell $1.60 per share, or 15.67%, to close at $8.61 per share on September 11, 2026.
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 www.pomlaw.com.
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SOURCE: Pomerantz LLP