SHAREHOLDER ALERT: Kaskela Law LLC Announces Investigation of Energy Vault Holdings, Inc. and Encourages NXU / NRGV Investors with Losses to Contact the Firm

Globe Newswire 6-Feb-2023 10:00 AM

PHILADELPHIA, Feb. 06, 2023 (GLOBE NEWSWIRE) -- Kaskela Law LLC announces that it is investigating Energy Vault Holdings, Inc. (NYSE:NRGV) ("Energy Vault") on behalf of the company's long-term investors.

Energy Vault develops and sells energy storage solutions. The current company was formed in February 2022 via a business combination with SPAC entity Novus Capital Corporation II (NYSE:NXU), with Energy Vault as the surviving, publicly traded entity.

Immediately following the closing of the business combination in February 2022, shares of Energy Vault's stock traded at approximately $12.00 per share. Subsequently, in the year following the business combination, shares of Energy Vault's stock declined in value to approximately $4.50 per share, a cumulative decline of $7.50 per share, or over 60% in value.

The investigation seeks to determine whether Energy Vault and/or the company's representatives violated the securities laws or breached their fiduciary duties to stockholders in connection with the business combination, thereby causing investor losses.

Energy Vault investors who purchased or acquired shares of NXU / NRGV stock prior to January 4, 2022 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 – 0750, or by email (skaskela@kaskelalaw.com / abell@kaskelalaw.com) or online at https://kaskelalaw.com/cases/energy-vault-holdings/ , to receive additional information about this investigation and their legal rights and options.

Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. This notice may constitute attorney advertising in certain jurisdictions.

CONTACT:

KASKELA LAW LLC
D. Seamus Kaskela, Esq.
Adrienne Bell, Esq.
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(888) 715 – 1740
(484) 229 – 0750
www.kaskelalaw.com