T1 Energy Securities Investigation

OVO Energy disclosed preliminary second-quarter 2026 results on July 28, 2026, revealing a roughly 20% increase in projected capital expenditures for Phase 1 of its G2_Austin solar-cell facility, from $425 million to $510 million, and a delay in first solar-cell production from before year-end 2026 to the first quarter of 2027. The company attributed these changes to labor and materials cost pressures tied to tightness in the Texas data center construction market. Following the disclosure, OVO Energy's stock price fell sharply, declining more than 24% from its July 27 closing price by late morning on July 29. Block & Leviton, a securities class action firm, launched an investigation into whether OVO Energy and certain executives violated federal securities laws by reassuring investors that the project's budget and timeline were on track while cost pressures were building. The investigation may lead to a lawsuit to recover losses for investors. The United States — United States Securities and Exchange Commission is mentioned in the context of a whistleblower program, but no formal SEC action has been announced.