| COMPANY |
Plug Power Inc. |
| COURT |
United States District Court for the District of Delaware |
| CASE NUMBER |
1:23-cv-00409 |
| JUDGE |
The Hon. Maryellen Noreika |
| CLASS PERIOD |
August 9, 2022 and March 1, 2023 |
| SECURITY TYPE |
Common Stock |
Case Background:
This is a securities fraud class action lawsuit on behalf of those who purchased or acquired Plug Power Inc. (“Plug”) common stock between August 9, 2022 and March 1, 2023, both dates inclusive (the “Class Period”).
The Complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts, about the Company’s business and operations. Specifically, Defendants misrepresented and/or failed to disclose that the company 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, among other issues. As a result, Defendants’ statements about the company’s business, operations, prospects, and ability to effectively manage its supply chain and production lacked a reasonable basis.
Current Status of Case:
On December 14, 2023, the Defendants filed a Motion to Dismiss the action. On February 5, 2025, the Court granted in part and denied in part the Motion and gave the Lead Plaintiff until February 25, 2025 to file an Amended Complaint. This action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 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.