Kessler Topaz Meltzer & Check, LLP announced on March 28 that a securities fraud class action lawsuit has been filed against NuScale Power Corporation for investors who purchased or acquired NuScale Class A common stock between May 13, 2025, and November 6, 2025. The case is pending in the United States District Court for the District of Oregon under the caption Truedson v. NuScale Power Corporation.
The lawsuit matters to shareholders who may have lost money due to alleged misstatements by NuScale regarding its relationship with ENTRA1 Energy LLC and the company’s financial disclosures during the relevant period.
According to the complaint, it is alleged that throughout this period, “Defendants made false and/or misleading statements and/or failed to disclose that: (1) ENTRA1 Energy LLC (‘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; (2) NuScale had entrusted its commercialization, distribution, and deployment of its NuScale Power Module 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; (3) 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 (4) as a result, NuScale’s commercialization strategy was exposed to material, undisclosed risks of failure, delays, regulatory challenges, or other negative setbacks.”
The company reported on November 6 that general and administrative expenses rose more than thirtyfold year-over-year in its third fiscal quarter—reaching $519 million compared with $17 million previously—primarily due to a $495 million payment related to an agreement with ENTRA1. Net loss increased from $46 million in Q3 last year to $532 million this quarter. Following these disclosures on November 6, shares fell approximately fourteen percent from $37.91 per share at close on November 5 to $32.46 per share at close on November 6.
Investors seeking appointment as lead plaintiff must do so by April 20 through Kessler Topaz Meltzer & Check or another counsel. The firm said serving as lead plaintiff does not affect one’s ability to participate in potential recovery but allows representation for all class members if selected.
Kessler Topaz Meltzer & Check describes itself as a leading U.S.-based law firm specializing in securities-fraud class actions with offices globally. The firm says it has recovered over twenty-five billion dollars for clients worldwide.
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