NEW ORLEANS, March 27, 2024 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until May 21, 2024 to file lead plaintiff applications in a securities class action lawsuit against Plug Power Inc. (NasdaqCM: PLUG), if they purchased or otherwise acquired the Company’s securities between May 9, 2023 and January 16, 2024, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of New York.
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Plug Power investors should visit us at https://www.claimsfiler.com/cases/nasdaq-plug-3 or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Plug Power and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Company 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; (ii) the Company 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) the Company downplayed the true scope and severity of all the foregoing when these issues were eventually revealed; (iv) as a result of all the foregoing, the Company 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.
The case is Adote v. Plug Power Inc., et al., No. 24-cv-00406.
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