Three dates stand out in the securities fraud case against Badger Meter. On July 22, 2025, the company reported disappointing second-quarter results and forecast a sequential sales decline. On January 28, 2026, it missed revenue expectations, with utility water sales down 6% from the quarter before. On April 17, 2026, first-quarter earnings fell $0.26 a share short of consensus, and revenue missed by $28.58 million.
The lawsuit says the stock dropped sharply after each of these disclosures and that investors lost money. Faruqi & Faruqi, LLP, the New York firm that circulated the case on July 23, 2026, lays out the allegations.
The claim
According to the complaint, Badger Meter (NYSE: BMI) and its executives misled investors, either by false statements or by leaving things out. The company’s results, they said, reflected “ongoing favorable industry trends,” “secular growth drivers” and “solid operating execution.” The complaint quotes the company describing “strong” demand, “robust order pacing and a strong bid pipeline,” and a “long runway” for growth. What it says was concealed is that those results could not last.
Those are allegations in a filed complaint. The release does not report a ruling, and it carries no response from Badger Meter.
Who is covered
The class period runs from April 18, 2024 to April 16, 2026. Anyone who bought or acquired Badger Meter stock in that window and lost money may qualify. Class members do not need to file anything to stay in the case, and the firm says they can recover losses simply by remaining in the class.
August 3, 2026 is the date by which an investor can ask the court to serve as lead plaintiff. That role goes to a court-appointed investor, normally the one with the largest financial interest, who directs the case for everyone in the class. Skipping it costs nothing, the firm says. Class members keep the same ability to share in any recovery.
The firm also invited whistleblowers, former Badger Meter employees and shareholders with information about the company’s conduct to contact it.
