NET Power Investors Face Critical Deadline as Class Action Over Project Permian Delays Gains Steam

The future of NET Power, Inc. (NYSE: NPWR) investors now hinges on a legal battle over the company’s flagship Project Permian, a utility-scale power plant in Texas that has become the epicenter of a securities fraud lawsuit. Shareholders who lost money due to alleged misstatements about the project’s timeline and costs are urged to join a class action, with a June 17, 2025 deadline looming for those seeking lead plaintiff status. The case, Luciani v. NET Power Inc., centers on claims that the company misled investors about the challenges facing its groundbreaking technology, triggering two catastrophic stock drops and executive departures that underscore systemic instability.

The Project Permian Crisis: Delays, Cost Overruns, and Broken Promises

The lawsuit alleges that NET Power and its executives repeatedly downplayed risks to Project Permian, a pioneering plant designed to generate power using Allam Cycle technology, which captures carbon emissions without additional equipment. Key misstatements included:

1. Timeline Deception: In November 2023, the company admitted delays, pushing completion to late 2027 or mid-2028—two years behind its original 2026 target. This revelation caused NPWR’s stock to plummet 18% in a single day.
   

2. Cost Blowout: By March 2025, the project’s budget had ballooned from $1.1 billion to $1.7–2.0 billion, with completion pushed to 2029 or later. This disclosure triggered a 31% drop, wiping out billions in shareholder value.
   

3. Leadership Exodus: In April 2025, the departure of key executives—President Brian Allen and CFO Akash Patel—sparked further skepticism, with shares falling 6% on the news.

Why This Matters for Investors

The lawsuit highlights how supply chain bottlenecks and site-specific logistical hurdles—long ignored by management—undermined Project Permian’s viability. For a company whose entire valuation rests on this single project, the delays and cost overruns have become existential. The case also raises red flags about the broader risks of betting on unproven carbon capture technologies, which have struggled to meet commercial expectations globally.

Legal Timeline and Investor Action

• Lead Plaintiff Deadline: June 17, 2025. Investors with significant losses must file motions to lead the class.
• Eligibility: Any investor who bought NPWR shares between June 9, 2023, and March 7, 2025, qualifies to join the lawsuit, even without lead plaintiff status.

Law Firms in the Spotlight

Two prominent firms are representing investors:
1. Robbins Geller Rudman & Dowd LLP: A powerhouse with a $2.5 billion 2024 recovery record, including the historic $7.2 billion Enron settlement.
2. The Gross Law Firm: Specializing in corporate misconduct cases, it urges shareholders to register by June 17 via its dedicated submission form.

What’s Next for NPWR?

The lawsuit’s outcome could determine whether shareholders recover losses from what is now a $2 billion+ project in over its original budget. For context, the stock’s 2023–2025 trajectory—from peak optimism to despair—paints a stark picture:

Conclusion: Act Now or Risk Permanent Losses

Investors holding NPWR shares during the Class Period face a critical choice. With the lead plaintiff deadline just weeks away, failing to act could mean forfeiting the chance to influence the case or share in any recovery. The math is stark: the company’s market cap has shrunk by over 50% since early 2023, and Project Permian’s delays have already cost shareholders billions.

The legal teams involved have a proven track record, but the case’s success hinges on swift action. Even shareholders who sold their positions during the Class Period may qualify, making it imperative to consult with a lawyer. For those who believed in NET Power’s promise, now is the time to demand accountability—or risk becoming another cautionary tale in the volatile world of green tech investing.

This article is for informational purposes only. Investors are urged to consult with legal counsel to evaluate their options.