According to the Complaint, Sunnova Energy International Inc. provides energy as a service in the U.S. The Company offers electricity, as well as operations and maintenance, monitoring, repairs and replacements, equipment upgrades, on-site power optimization, and diagnostics services.

The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) Sunnova routinely engaged in predatory business practices against disadvantaged homeowners and communities, (ii) the foregoing conduct subjected the Company to a heightened risk of regulatory and/or governmental scrutiny, as well as significant reputational and/or financial harm; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.

On May 20, 2024, the Court issued an Order appointing Co-Lead Plaintiffs and Counsel. Co-Lead Plaintiffs filed an Amended Complaint on June 28. Defendants filed a Motion to Dismiss the Amended Complaint on August 16.

On March 14, 2025, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiffs were given leave to amend the Complaint. Plaintiffs did not file an amended Complaint, and on April 7, the Court entered Final Judgment for the Defendants.

On May 6, 2025, Lead Plaintiffs filed a Notice of Appeal to the United States Court of Appeals for the Fifth Circuit, citing their intention to appeal the District Court's entry of Final Judgment.

On June 25, 2025, the Court was notified of Defendant Sunnova’s suggestion of bankruptcy. On June 26, the Court issued an Order staying the case pending resolution of Sunnova's bankruptcy proceedings.