The Schall Law Firm, a prominent shareholder rights litigation firm, has issued a reminder to investors of Badger Meter, Inc. (NYSE: BMI) regarding the upcoming deadline to apply for the lead plaintiff position in a securities fraud class action lawsuit. The deadline to file a motion is August 3, 2026.
The lawsuit is brought on behalf of investors who purchased Badger Meter common stock between April 18, 2024, and April 16, 2026. It alleges that the company and its executives violated federal securities laws during this period by making materially false and misleading statements.
Allegations of Misrepresentation
The central claim of the suit focuses on Badger Meter's characterization of its growth drivers. It is alleged that throughout the class period, the company told investors its record financial results reflected "continued favorable industry trends," "long-term growth drivers," and "solid operational execution." Executives similarly touted "strong" demand, citing "solid order patterns and a robust bid pipeline," and claimed the company had a "long" growth runway.
However, the complaint alleges these statements were materially false and misleading. In reality, the company's financial performance was allegedly inflated, at least in part, by a practice of "pulling forward" customer orders to recognize revenue earlier. This practice allegedly concealed weakening demand and deteriorating short-term order trends. It also allegedly consumed revenue that would have been available for future periods, ultimately leading the company to subsequently report disappointing financial results.
Revelation of the Truth
The truth was allegedly revealed through a series of disappointing quarterly earnings reports:
On July 22, 2025, Badger Meter reported second-quarter results, missing earnings expectations, showing slowing revenue growth, and reporting deteriorating margins. The company also forecast a sequential decline in third-quarter sales. The stock price plunged 16.5% that day to close at $204.80.
On January 28, 2026, the company reported fourth-quarter results, revealing a 6% sequential decline in utility water sales, attributed to "the previously communicated project timing impact." The stock fell another 11% to close at $146.32.
On April 17, 2026, the company reported first-quarter results, showing a 9% year-over-year decline in total sales and a 10% drop in utility water sales. Earnings per share fell to $0.93 from $1.30 in the prior-year period. The company acknowledged for the first time that "softer short-term municipal customer order patterns" were a contributing factor. The stock price plummeted 24.1% that day to close at $115.54.
The deadline to apply for the lead plaintiff role is August 3, 2026. The Schall Law Firm encourages investors who purchased Badger Meter securities during the class period and suffered losses to contact the firm to discuss their legal rights. The firm is handling the case on a contingency basis, meaning shareholders will not be responsible for any legal fees or expenses unless a recovery is obtained.
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