Investigation into Nextracker: Deadline Notice for Investors

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $75,000 In Nextracker To Contact Him Directly To Discuss Their Options

If you suffered losses exceeding $75,000 in Nextracker between February 1, 2024 and August 1, 2024 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).

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New York, New York--(Newsfile Corp. - January 12, 2025) - Faruqi & Faruqi, LLP, a prominent national securities law firm, is currently investigating potential claims on behalf of investors in Nextracker Inc. ("Nextracker" or the "Company") (NASDAQ: NXT). Investors are reminded that there is a critical deadline on February 25, 2025 to apply for the position of lead plaintiff in a federal securities class action that has been initiated against the Company.

Faruqi & Faruqi has established itself as a leading national securities law firm, operating offices in New York, Pennsylvania, California, and Georgia. Since its inception in 1995, the firm has successfully recovered hundreds of millions of dollars for its clients. More information can be found at www.faruqilaw.com.

The complaint against Nextracker alleges that the Company, along with its executives, violated federal securities laws by providing false or misleading information and failing to disclose critical issues. Specific points of concern include: (1) the more serious impact of project delays on Nextracker's operations and financial health than previously conveyed; (2) significant permitting and interconnection delays hampering revenue conversion from backlog; (3) the Company's inability to buffer negative effects from these delays with increased demand and project management; (4) the alleged lack of competitive advantages previously claimed that would mitigate the impact of industry challenges; and (5) fading credibility in the optimistic statements made regarding Nextracker’s business outlook.

Furthermore, the Nextracker class action asserts that on August 1, 2024, the Company disclosed a revenue drop from $737 million in the last quarter of 2024 to $720 million in the first quarter of 2025. Additionally, its GAAP gross profit significantly fell from $340 million to $237 million in the same quarters. This was the first instance where Nextracker did not raise its guidance since going public, suggesting a slowdown in expected growth.

This revelation led to a steep decline in Nextracker's stock price, which dropped approximately 15% over two trading sessions.

In these legal matters, the court appoints a lead plaintiff who has the largest financial stake in the claims presented and represents the interests of the broader class. Any individual who qualifies as part of this group may apply to be the lead plaintiff or opt to remain an absent member of the class. It is important to note that the potential recovery is not impacted by the choice to pursue or forgo the lead plaintiff position.

Faruqi & Faruqi, LLP also invites any individual with knowledge regarding Nextracker’s operations to come forward, including whistleblowers, former employees, shareholders, or others with relevant information.

For further details about the Nextracker Inc. class action, please visit www.faruqilaw.com/NXT or contact Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

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investigation, classaction, securities