Philadelphia, Pennsylvania--(Newsfile Corp. - June 5, 2026) - National plaintiffs' law firm Berger Montague PC announces a class action lawsuit against Badger Meter, Inc. (NYSE: BMI) ("Badger Meter" or the "Company") on behalf of investors who purchased or acquired Badger Meter common stock during the period from April 18, 2024 through April 16, 2026 (the "Class Period").

Investor Deadline: Investors who purchased or acquired Badger Meter common stock during the Class Period may, no later than August 3, 2026, seek to be appointed as a lead plaintiff representative of the class. To learn your rights, CLICK HERE.

Badger Meter, headquartered in Milwaukee, Wisconsin, is a global provider of flow measurement, water quality monitoring, and control solutions. The Company's products serve water utilities, municipalities, and industrial customers worldwide and span both traditional metering hardware and advanced metering infrastructure ("AMI") platforms that enable utilities to collect usage data remotely.

According to the complaint, throughout the Class Period, Defendants falsely assured investors that Badger Meter's record financial results were the product of genuine industry tailwinds and solid execution. Management touted strong demand, a robust bid pipeline, and what they called a long runway for growth.

In truth, according to the suit, Badger Meter's reported results during the Class Period were materially inflated by a practice of pulling forward customer orders to recognize revenue ahead of schedule. This practice masked weakening demand and depleted revenue that would otherwise have been available in future periods.

The concealment began to unravel on July 22, 2025, when Badger Meter reported second-quarter 2025 results that missed consensus estimates, showed decelerating revenue growth, and revealed margin deterioration. The Company further disclosed that it expected sales to decline sequentially in the third quarter of 2025. On this news, Badger Meter's stock fell $40.42 per share, or 16.5%, closing at $204.80 per share.

On January 28, 2026, Badger Meter reported fourth-quarter 2025 results that again fell short of revenue expectations, including a 6% sequential decline in utility water sales. Management continued to characterize the miss as a reflection of previously communicated project pacing. Shares fell an additional $18.09, or approximately 11%, to close at $146.32 per share.

Finally, on April 17, 2026, the Company reported first-quarter 2026 results that, as the complaint alleges, revealed the depth of the problem: total sales of $202.3 million were down 9% year-over-year; operating margin contracted from 22.2% to 17.4%; and diluted EPS fell from $1.30 to $0.93. Utility water sales declined 10% compared to the quarter in the prior year. In addition to project timing, management acknowledged for the first time that softer short-cycle municipal ordering had contributed to the results - and disclosed that such variability had, in fact, existed throughout the 2023-2025 period but had been obscured by backlog and projects in flight. Badger Meter's stock dropped $36.75 per share, more than 24%, to close at $115.54 per share.

If you are a Badger Meter investor and would like to learn more about this action, CLICK HERE or please contact Berger Montague: Andrew Abramowitz at aabramowitz@bergermontague.com or (215) 875-3015, or Caitlin Adorni at cadorni@bergermontague.com or (267) 764-4865.

About Berger Montague

Berger Montague is one of the nation's preeminent law firms focusing on complex civil litigation, class actions, and mass torts in federal and state courts throughout the United States. With more than $2.4 billion in 2025 post-trial judgments alone, the Firm is a leader in the fields of complex litigation, antitrust, consumer protection, defective products, environmental law, employment law, securities, and whistleblower cases, among many other practice areas. For over 55 years, Berger Montague has played leading roles in precedent-setting cases and has recovered over $50 billion for its clients and the classes they have represented. Berger Montague is headquartered in Philadelphia and has offices in Chicago; Malvern, PA; Minneapolis; San Diego; San Francisco; Toronto, Canada; Washington, D.C., and Wilmington, DE.

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Source: Berger Montague