NuScale Power (SMR) Admits to Ongoing, Active SEC Inquiry, Shares Fall - Hagens Berman

/EIN News/ -- SAN FRANCISCO, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Hagens Berman urges NuScale Power Corporation (NYSE: SMR) investors who suffered substantial losses to submit your losses now. The firm also encourages persons with knowledge who may be able to assist in the investigation to contact its attorneys.

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NuScale Power (SMR) Investigation:

On July 29, 2024, Hunterbrook Media reported that the SEC is conducting an “active and ongoing” investigation into NuScale and noted that after Hunterbrook's publication “a spokesperson wrote in a statement: ‘[w]e are unaware of any SEC investigation into NuScale or any reason for such an investigation.’”

But, on August 2, 2024, NuScale did an about face. The company admitted that, contrary to its July 29 denial, in December 2023 the SEC requested information relating to the company’s employment, severance, and confidentiality agreements. In addition, NuScale revealed that the SEC requested additional information from the company on July 31, 2024.

Each of these events drove the price of NuScale shares sharply lower.

“We’re investigating the propriety of NuScale’s financial disclosures and operations, including whether the company’s agreements with employees suppress whistleblowing,” said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you invested in NuScale Power and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »

If you’d like more information about the NuScale Power investigation, read more »

Whistleblowers: Persons with non-public information regarding NuScale Power should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email SMR@hbsslaw.com.

About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.

Contact:
Reed Kathrein, 844-916-0895