NuScale CEO and CFO Face Liability After Shares Drop Over 70%
NuScale Power’s shares plunged over 70% from a high above $57 to $17 after CEO John L. Hopkins and CFO Robert R. Hamady were named defendants in a Section 20(a) securities class action alleging misstatements about partner ENTRA1. April 20, 2026 is the deadline to apply for lead plaintiff.
1. Class Action Filing and Defendants
A securities class action under Section 20(a) named CEO John L. Hopkins and CFO Robert R. Hamady as control person defendants for alleged misrepresentations regarding partner ENTRA1 Energy LLC.
2. Allegations and SEC Filing Participation
The complaint contends both executives drafted, reviewed and approved public statements in SEC filings and investor calls from May 13 through November 6, 2025, that overstated ENTRA1’s nuclear plant experience and omitted its lack of operational history.
3. Share Price Impact and Lead Plaintiff Deadline
NuScale’s shares fell from a class period high above $57 to $17, reflecting a decline exceeding 70% as investors reacted to the claims. The court has set April 20, 2026 as the deadline to apply for lead plaintiff.
4. Petrochemical Plant Partnership
NuScale Power also entered a strategic partnership with Ebara Elliott Energy to demonstrate its small modular reactor technology in petrochemical facilities, advancing its industrial commercialization efforts.