Johnson Fistel, PLLP Begins Investigation on Behalf of Long-Term Shareholders of NET Power Inc. (NPWR)

Johnson Fistel, PLLP is investigating potential claims on behalf of current, long-term shareholders of NET Power Inc. (NYSE: NPWR) against certain of their officers and directors for alleged breaches of fiduciary duty. Shareholders who have held shares continuously since prior to the dates listed below may have standing to seek corporate governance reforms focused on executive oversight, the return of funds to the Company, and a court-approved incentive award, at no cost to them.

If you have held NET Power shares continuously since prior to June 9, 2023, you may have standing to seek corporate governance reforms focused on executive oversight at NET Power.

Complaint Allegations
A previously filed securities class action complaint alleges that throughout the class period Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, the complaint alleges that Defendants failed to disclose that: (1) NET Power was unlikely to complete Project Permian on schedule and the project was likely to be significantly more expensive than represented due to, among other things, supply chain issues and site- and region-specific challenges; (2) projections regarding the time and capital needed to complete Project Permian were unrealistic; (3) the increased time and capital required were likely to have a significant negative impact on the Company’s business and financial results; and (4) as a result, Defendants’ public statements were materially false and misleading when made.