Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired Plug Power Inc. (“Plug”) (NASDAQ: PLUG) common stock between January 19, 2022 and March 1, 2023, inclusive (the “Class Period”).
Plug is a hydrogen energy company that sells, and services hydrogen fuel cells, which use liquid hydrogen as fuel to create power.
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Plug was unable to effectively manage its supply chain and product manufacturing, resulting in reduced revenues and margins, increased inventory levels, and several large deals being delayed until at least 2023; (2) Plug struggled to keep the fuel cells it sold to customers operating at sufficient capacity, resulting in financial penalties; (3) several of Plug’s largest customers scaled-back or delayed their orders after growing dissatisfied with the quality of Plug’s products; and (4) as a result of the foregoing, Defendants’ statements about the company’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times.
Current Status of Case:
On April 30, 2025, Defendants filed a Motion to Dismiss the Amended Complaint. The Motion has been fully briefed and is pending decision before the Court. This action is ongoing.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.