Nextracker Investors Drop Suits Against Solar Company’s Leaders

A pair of Nextracker Inc. investors are voluntarily dismissing suits that claim the solar-panel software developer’s board and top executives downplayed revenue concerns.

The parties cited the demise of a parallel proposed class action in asking Judge P. Casey Pitts of the US District Court for the Northern District of California on Thursday to sign off on the consolidated derivative suit’s end.

• Shareholders Clifton Murie and Edward Minks’ actions allege Nextracker’s leaders offered rosy revenue projections in connection with a solar project backlog before releasing disappointing financials and saying the company expected to realize only 80% of backlog-related earnings
• Pitts ...