Portnoy Law Firm Announces Class Action on Behalf of NuScale Power Corporation Investors
LOS ANGELES, Feb. 20, 2026 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises NuScale Power Corporation, (“NuScale” or the "Company") (NYSE: SMR) investors off a class action on behalf of investors that bought securities between May 13, 2025 and November 6, 2025, inclusive (the “Class Period”). NuScale investors have until April 20, 2026 to file a lead plaintiff motion.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or join the case via https://portnoylaw.com/nuscale-power-corporation. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
NuScale’s core technology, the NuScale Power Module (“NPM”), is a small modular nuclear reactor designed to generate energy within a broader power plant. Prior to the start of the Class Period, NuScale entered into a global commercialization partnership with ENTRA1 Energy LLC and NuScale and its executives claimed that this critical partnership would allow NuScale to take its NPM technology from the development stage to deployment. NuScale’s reliance on ENTRA1 as an exclusive commercialization partner appeared to be validated when, on September 2, 2025, ENTRA1 and the Tennessee Valley Authority (“TVA”) jointly announced an agreement to develop power plants to provide the TVA with up to six gigawatts of new nuclear power generation.
However, the NuScale class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) ENTRA1 had never built, financed, or operated any significant projects – let alone projects in the highly technical and complicated field of nuclear power generation – during its entire operating history; (ii) NuScale had entrusted its commercialization, distribution, and deployment of its NPMs and hundreds of millions of dollars of NuScale capital to an entity that lacked any significant prior experience owning, financing, or operating nuclear energy generation facilities; (iii) the purported experience and qualifications attributed to ENTRA1 by defendants during the Class Period in fact referred to the purported experience and qualifications of the principals of the Habboush Group, a distinct entity without significant experience in the field of nuclear power generation; and (iv) as a result, NuScale’s commercialization strategy was exposed to material, undisclosed risks of failure, delays, regulatory challenges, or other negative setbacks.
The NuScale investor class action further alleges that on November 6, 2025 NuScale revealed that NuScale’s general and administrative expenses had ballooned more than 3,000% to $519 million during its third fiscal quarter, up from $17 million in the prior year period, due largely to NuScale’s payment of $495 million to ENTRA1 for its TVA agreement. As a result, NuScale’s quarterly net loss skyrocketed to $532 million, up from $46 million in the prior year period. During the corresponding conference call, analysts pressed NuScale management regarding whether ENTRA1 was sufficiently experienced to own and operate the energy generation facilities contemplated by the TVA agreement. NuScale’s CEO, defendant John L. Hopkins, further revealed during the call that the agreement between ENTRA1 and TVA contemplated as many as 72 NPMs, meaning NuScale’s milestone payments to ENTRA1 could potentially exceed more than $3 billion. On this news, the price of NuScale Class A shares declined more than 12% over a two-day trading period.
The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA, NY and TX Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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