THE LAWSUIT: A class action securities lawsuit was filed against Plug Power Inc. (PLUG) that seeks to recover losses of Plug Power Inc. shareholders who were adversely affected by alleged securities fraud between May 9, 2023 and January 16, 2024
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (i) Plug overstated its ability and/or efforts to mitigate the negative impacts that, among other things, 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; (ii) 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; (iii) Plug downplayed the true scope and severity of all the foregoing when these issues were eventually revealed; (iv) 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 (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.
WHAT’S NEXT? If you suffered a loss in Plug Power Inc. stock during the relevant time frame – even if you still hold your shares – go to https://zlk.com/pslra-1/plug-power-inc-lawsuit-submission-form-2?wire=18 to learn about your rights to seek a recovery. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
https://zlk.com/
