PLUG INVESTOR ALERT: Bronstein, Gewirtz & Grossman LLC Announces that Plug Power, Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit!

Despite the foregoing issues, according to the Complaint, Defendants assured investors throughout the Class Period that Plug was on a clear path to long-term growth and profitability, that the build-out and construction of its green hydrogen production plants remained "on track", and that the Company had identified multiple opportunities to continue to fund its operations. Relatedly, Defendants assured investors that Plug had enacted a diversification strategy to mitigate the potential negative impacts that supply chain constraints and material shortages could have or were having on the Company's business.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that:

(1) Plug overstated its ability and/or efforts to mitigate the negative impacts that supply chain constraints and material shortages could have or were having on the Company's hydrogen business, as well as the sufficiency of its cash and capital to fund its operations;

(2) Plug continued to experience delays related to its green hydrogen production facility build-out plans, as well as in securing external funding sources to finance its growth plans;

(3) Plug downplayed the true scope and severity of all the foregoing when these issues were eventually revealed;

(4) as a result of all the foregoing, Plug also overstated the near-term prospects of its hydrogen production operations, as well as the viability of expanding those operations; and

(5) as a result, the Company's public statements were materially false and misleading at all relevant times.

On November 9, 2023, Plug announced its third quarter 2023 results, including third quarter GAAP earnings-per-share ("EPS") of -$0.47, missing consensus estimates by $0.16, and third quarter revenue of $198.71 million, missing consensus estimates by $23.02 million. In discussing these results, Plug disclosed that its "2023 overall financial performance has been negatively impacted by unprecedented supply challenges in the hydrogen network in North America", including "severe hydrogen shortages," prompting multiple analyst downgrades.

On this news, Plug's stock price fell $2.40 per share, or 40.47%, to close at $3.53 per share on November 10, 2023.

What's Next?

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm's site: bgandg.com/PLUG or you may contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you suffered a loss in Plug you have until May 21, 2024, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.

There is No Cost to You

We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.

Why Bronstein, Gewirtz & Grossman:

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.

Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:

Bronstein, Gewirtz & Grossman, LLC

Peretz Bronstein or Yael Nathanson

332-239-2660 | info@bgandg.com

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