What happened?

On September 11, 2026, UBS downgraded NuScale from “Neutral” to “Sell” and lowered its price target from $10 to $6. UBS analyst Jon Windham stated that NuScale was losing its early lead in small modular reactor technology as competitors moved faster toward construction. UBS also cited the Company’s estimated build timeline of more than five years and its lack of firm customer commitments, assumed that only one NuScale project would begin construction by 2028, and forecast approximately $700 million in cumulative cash burn from 2026 through 2028.

On this news, NuScale’s stock fell $1.60 or 15.67%, to close at $8.61 per share on September 11, 2026, thereby injuring investors.

What is the Nuscale Power Corporation lawsuit about?

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.