Kaskela Law LLC announces that a shareholder class action lawsuit has been filed against Plug Power Inc. (NASDAQ: PLUG) on behalf of investors who purchased shares of the company’s common stock between August 9, 2022 and March 1, 2023, inclusive (the “Class Period”).
Plug Power is a hydrogen fuel cell company that develops power systems for use in electric vehicles, stationary power units, and other purposes.
According to the complaint, during the Class Period, Plug Power and certain of the company’s executive officers made a series of materially false and/or misleading statements, as well as failed to disclose material adverse facts, about the Company’s business and operations. Specifically, the Defendants are alleged to have 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.
The complaint further alleges that, as a result of Defendants’ wrongful acts and omissions, and the significant decline in the market value of the company’s common stock when the truth was revealed, Plug Power’s investors have suffered significant damages.
IMPORTANT DEADLINE: Investors who purchased Plug Power common stock during the Class Period and suffered a financial loss may, no later than June 12, 2023, seek to be appointed as a lead plaintiff representative in the action through Kaskela Law LLC or other counsel.
Investors who purchased Plug Power’s common stock during the Class Period are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 – 0750, or by completing the form on this page, for additional information about this action and their legal rights and recovery options.
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