On November 11, 2026, a securities class action complaint was filed against NusScale Power Corporation (“NuScale” or the “Company”) (NYSE: SMR) on behalf of all persons and entities other than defendants that purchased or otherwise acquired NuScale securities between February 27, 2026 and September 10, 2026, both dates inclusive (the “Class Period”). 

The action, Chang v. NuScale Power Corporation, et al., was filed in United States District Court for the District of Oregon, Portland Division, and seeks to recover damages caused by the defendants’ alleged violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder

NuScale Securities Class Action Allegations

According to the complaint, throughout the Class Period, defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that 1) defendants overstated NuScale’s purported “first mover” competitive advantage; 2) defendants overstated NuScale’s ability to generate revenue from either the RoPower Project or any work for the Tennessee Valley Authority (“TVA”); 3) the Company’s commercial prospects, including its remaining cash runway, were therefore likewise overstated; and 4) as a result, defendants’ public statements were materially false and misleading at all relevant times.

The truth, according to the complaint, began to emerge on September 11, 2026, when UBS downgraded NuScale from “Neutral” to “Sell” and lowered its price target from $10 to $6. UBS opined that NuScale was rapidly losing its “first-mover” advantage in SMR technology to faster-moving competitors. UBS also flagged a lengthy five-year build timeline, a critical lack of firm customer commitments, and projected a massive $700 million in negative free cash flow between 2026 and 2028. The report also described stagnating progress regarding NuScale’s RoPower Project and the risk that the TVA would not ultimately move forward with NuScale.

Following the UBS report, NuScale’s stock price fell $1.60 per share, or 15.67%, to close at $8.61 per share on September 11, 2026.

January 11, 2027 Lead Plaintiff Deadline

NuScale investors have until January 11, 2027 to move the Court for appointment as lead plaintiff. Investors do not need to seek appointment as lead plaintiff to remain a member of the proposed class.

NuScale Investors: Contact Kehoe Law Firm

If you purchased NuScale securities during the Class Period and suffered financial losses, you are encouraged to complete Kehoe Law Firm’s confidential Stockholder Information Request Form or send us a message to learn more about the class action and your legal rights.

For a free, no-obligation legal evaluation, contact:

Michael Yarnoff, Esq.
(215) 792-6676, Ext. 804
[email protected]
[email protected]

About Kehoe Law Firm, P.C.

Kehoe Law Firm, P.C. is a nationally recognized, plaintiff-side class action law firm representing investors, consumers, and employees in matters involving securities fraud, corporate misconduct, mergers and acquisitions, antitrust violations, whistleblower claims, data breaches, consumer fraud, employment law violations, as well as ERISA and retirement plan litigation. Its attorneys have served as lead or co-lead counsel in major securities cases, recovering more than $10 billion for institutional and individual investors.

Kehoe Law Firm’s class action legal services are provided on a contingency-fee basis, meaning plaintiffs are not responsible for attorneys’ fees or litigation expenses. Any request for attorneys’ fees and expenses will be subject to court approval.

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