| COMPANY |
Plug Power Inc. |
| COURT |
United States District Court for the District of Delaware |
| CASE NUMBER |
1:23-cv-00409 |
| JUDGE |
The Honorable Jennifer L. Hall |
| CLASS PERIOD |
January 19, 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”) (NASDAQ: PLUG) common stock between January 19, 2022 and March 1, 2023, inclusive (the “Class Period”).
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) Plus 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, Defendants’ statements about the company’s business, operations, prospects, and ability to effectively manage its supply chain and production lacked a reasonable basis at all relevant times.
Current Status of Case:
Defendants filed the Motion to Dismiss the Second Amended Complaint on April 30, 2025. The Motion is pending decision before the Court. 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.