LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz announces an investigation of NuScale Power Corporation (“NuScale” or the “Company”) (NYSE: SMR) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On October 19, 2023, Iceberg Research published a report alleging, among other things, that NuScale “recently disclosed a huge contract with blockchain datacenter service provider Standard Power. This contract has zero chance of being executed as Standard Power clearly does not have the means to support contracts of this size.” Additionally, the report stated that “NuScale has around 15 months before its cash runs out.”
On this news, NuScale’s stock price fell $0.58, or 11.5%, to close at $4.46 per share on October 19, 2023, thereby injuring investors.
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If you purchased NuScale securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to firstname.lastname@example.org, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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