A securities class action has been filed against Plug Power, Inc. (PLUG) on behalf of a class of all persons and entities who purchased or otherwise acquired Plug common stock between August 9, 2022 through March 1, 2023. This case has been filed in the USDC – DE.
This 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.