A class action lawsuit was filed against NuScale Power Corporation (SMR) on February 18, 2026.
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Plaintiffs -shareholders- in the federal securities class action allege that they acquired NuScale stock at artificially inflated prices between May 13, 2025 and November 6, 2025, known as the “Class Period.” They are now seeking compensation for financial losses incurred upon public revelation of the company’s alleged misconduct during that time. To learn whether you may be eligible for a recovery under this securities lawsuit, click here.
What Does NuScale Power Corporation Do?
NuScale is a nuclear technology company focusing its efforts on “scalable modular reactors.” To that end, NuScale has created its core technology, the NuScale Power Module (“NPM”). According to the complaint, an NPM is a small modular nuclear reactor (“SMR”) designed to generate energy within a broader power plant.
The company claims that a 12-module plant powered by its NPM is capable of producing up to 924 MWe of carbon-free energy. This energy can be used for tasks including, but not limited to, supporting the growth of artificial intelligence (AI), providing process heat for industrial applications, and providing “reliable baseload power for wind and solar.”
NuScale was founded in 2007 and claims that it made history when it became the first small modular reactor (SMR) to receive U.S. Nuclear Regulatory Commission (NRC) design approval in 2020. The company also claims that it made history again just two years later when it became the first SMR technology provider to be publicly traded.
Why are NuScale Shareholders Suing the Company?
NuScale and two of its senior officers (the “Individual Defendants”) are now accused of deceiving investors by lying and withholding important information about the company’s business practices and financial condition during the Class Period.
Specifically, they are accused of omitting truthful information about various aspects of the company’s commercialization strategy from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused NuScale stock to trade at artificially inflated prices during the time in question.
The truth, according to shareholders, came out on November 6, 2025. That’s when the company unexpectedly announced that its “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.”
According to the complaint, that news, coupled with additional information the company provided during an ensuing conference call that same day and analysts’ reactions, prompted a decline in NuScale’s stock price over the next two trading days.
Taking a Closer Look
As alleged, the company and/or Individual Defendants repeatedly made false and misleading public statements throughout the Class Period.
During a conference call with analysts held at the beginning of the Class Period, for instance, the company’s CEO (an Individual Defendant) stated in pertinent part: “In collaboration with our exclusive commercialization partner, ENTRA1 Energy, we are in various stages of discussions with potential customers, both here in the U.S. and abroad.”
Next, in a May 29, 2025 press release, the company stated in relevant part: “The U.S. NRC’s uprate approval of the NuScale SMR technology now strengthens ENTRA1 Energy to produce and deliver energy as the most near-term American SMR power solution via ENTRA1 Energy Plants™ with NuScale SMR technology inside. ENTRA1 Energy is NuScale’s partner and independent power plant development platform, which holds the global exclusive rights to the commercialization, distribution, and deployment of NuScale’s SMRs.”
Finally, during an August 7, 2025 conference call with analysts, the company’s CEO stated in relevant part: “Under this partnership, NuScale serving as a technology provider sells its NuScale power modules directly to ENTRA1 for installation and reactor buildings of ENTRA1 energy plants.”
Actions You May Take
If you have purchased the company’s stock during the Class Period, you may join the class action as a lead plaintiff, remain a passive class member, or opt out of this litigation and pursue individual claims that may not be available to the class as a whole. To learn more about your options, click here.
The deadline to file for lead plaintiff in this class action is April 20, 2026.