NOVA - NOVA Class Action Alert: Robbins LLP Reminds Investors of the Lead Plaintiff Deadline in the Sunnova Energy International Inc. Class Action | Benzinga
SAN DIEGO, Feb. 26, 2024 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired Sunnova Energy International Inc. (NYSE:NOVA) securities between February 25, 2020 and December 7, 2023. Sunnova provides energy as a service in the U.S. The Company offers electricity, as well as offers operations and maintenance, monitoring, repairs and replacements, equipment upgrades, on-site power optimization, and diagnostics services.
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The Allegations: According to the complaint, in September 2023, Sunnova entered into a $3.0 billion partial loan guarantee agreement with the U.S. Department of Energy's ("DOE") Loan Programs Office ("LPO") to support solar loans originated by Sunnova under a new solar loan channel named Project Hestia (the "LPO Loan"). In a press release detailing the LPO Loan, Sunnova stated that Project Hestia was expected to "provide disadvantaged homeowners and communities with increased access to clean, flexible power via Sunnova services by indirectly and partially guaranteeing the cash flows associated with consumers' loans" and that Sunnova's "purpose-built technology" was "designed to improve customer insights regarding ...