BMI Shareholder Alert: Badger Meter, Inc. Securities Class Action Lawsuit - Investors With Losses May Contact Levi & Korsinsky

Badger Meter's SEC Filings Warned of Generic Risks but Allegedly Failed to Disclose That "Short-Cycle" Demand Variability Was Already Eroding Revenue — Investors Lost Over $95 Per Share Across Three Corrective Disclosures

NEW YORK, July 22, 2026 /PRNewswire/ -- Levi & Korsinsky, LLP examines the adequacy of Badger Meter, Inc.'s (NYSE: BMI) risk disclosures during the period from April 18, 2024 through April 16, 2026. A securities class action has been filed alleging BMI shareholders were harmed by disclosures that omitted specific, known risks. Find out if you qualify to recover losses from inadequate disclosures. You may also contact Joseph E. Levi, Esq. at [email protected] or ☎(212) 363-7500.

BMI shares fell more than 24%, or $36.75 per share, on April 17, 2026, after the company acknowledged that "softer short-cycle municipal customer ordering" caused $15 million to $20 million in revenue shortfalls versus internal expectations. The lead plaintiff deadline is August 3, 2026.

What the Company Disclosed in SEC Filings

Throughout the Class Period, Badger Meter's SEC filings contained standard forward-looking statement disclaimers and boilerplate risk factor language. The company's safe harbor warnings accompanied earnings releases and conference call commentary in which executives described "ongoing favorable industry fundamentals," "secular growth drivers," and a "robust demand environment." These filings did not identify any specific, contemporaneous deterioration in short-cycle municipal ordering patterns or the revenue-depleting effects of order pull-forward practices, the complaint challenges.

What the Complaint Alleges Was Missing

The securities action contends that Badger Meter's disclosures omitted material information that was allegedly known internally:

• Short-cycle demand variability "always existed" during 2023-2025 but was never disclosed as a specific risk to reported revenue trends
• Order pull-forward practices were allegedly inflating current-period results while depleting future revenue
• The company's backlog was masking weakening near-term order rates rather than reflecting durable demand
• Management's "high single-digit" growth guidance allegedly ignored internal data showing order deterioration
• Generic "project pacing" explanations in July 2025 and January 2026 allegedly substituted for specific disclosure of systemic demand weakness

Why Generic Warnings May Not Protect

The complaint specifically alleges that Defendants' safe harbor warnings were "ineffective to shield those statements from liability" because, at the time each forward-looking statement was made, the speaker knew the statement was false or misleading. As pleaded in the action, when an executive admitted in April 2026 that short-cycle variability "has always existed, inclusive of [the] 2023 to 2025 time frame" but was "less visible" due to backlog conditions, that admission undercut years of public assurances that demand was "as solid as it's ever been."

The distinction matters: a company that discloses a generic risk that demand "may fluctuate" provides fundamentally different information than a company that specifically identifies an ongoing pattern already affecting reported financials. The complaint charges that Badger Meter's filings fell into the former category while internal reality demanded the latter.

"Generic risk factor language cannot substitute for disclosing specific, known problems that are already affecting a company's operations. When variability is described as something that 'always existed,' the question becomes why it was never specifically disclosed to shareholders who were making investment decisions based on reported growth rates." -- Joseph E. Levi, Esq.

Speak with an attorney about whether BMI's disclosures met legal standards or call (212) 363-7500.

LEAD PLAINTIFF DEADLINE: August 3, 2026

About Levi & Korsinsky, LLP

Levi & Korsinsky, LLP, Top 50 securities litigation firm (ISS, seven consecutive years). Over 70 professionals. Hundreds of millions recovered for investors.

Frequently Asked Questions About the BMI Lawsuit

Q: What specific misstatements does the BMI lawsuit allege? A: The complaint alleges Badger Meter made materially false or misleading statements regarding the drivers of its record financial results, demand durability, and growth outlook while failing to disclose that order pull-forward practices were concealing weakening short-cycle demand. When the true state was revealed through three corrective disclosures, the stock price declined sharply.

Q: When did Badger Meter allegedly mislead investors? A: The class period runs from April 18, 2024 to April 16, 2026. The alleged fraud was revealed through corrective disclosures on July 22, 2025, January 28, 2026, and April 17, 2026, each causing significant stock declines.

Q: What if I already sold my BMI shares — can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold them. Investors who bought during the class period and sold at a loss may still participate.

Q: Do I need to go to court or give testimony? A: No. The overwhelming majority of class members never appear in court or give depositions. You submit a claim form to receive your portion of recovery.

Q: What does it cost me to participate? A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.

Q: What if I missed the lead plaintiff deadline? A: The deadline applies only to investors seeking lead plaintiff appointment. Class members who miss it can still participate in any settlement or recovery.

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

Ed Korsinsky, Esq.

33 Whitehall Street, 27th Floor

New York, NY 10004

[email protected]

Tel: (212) 363-7500

Fax: (212) 363-7171

SOURCE Levi & Korsinsky, LLP