Hagens Berman Files New Securities Class Action Against Plug Power (PLUG) and Its Senior Executives 253 0 Kommentare New Complaint Extends Alleged Fraudulent Period From Mar. 1, 2023 – Jan. 16, 2024, Inclusive; Lead Plaintiff Filing Deadline Remains May 21, 2024 - Seite 2

Investors learned the truth on Nov. 9, 2023, when Plug announced dismal Q3 2023 results. The company blamed supply challenges in the North American hydrogen network and revealed liquidity problems that raised doubts about its ability to continue as a going concern. This news caused Plug shares to plummet by over 40% on Nov. 10, 2023. Subsequently, analyst downgrades followed. On Jan. 17, 2024, Plug’s shares dropped again after Seeking Alpha reported that Morgan Stanley analyst Andrew Percoco maintained an underweight rating and a $3 price target. The analyst also reportedly warned of the increasing likelihood that Plug would need to raise $1 billion to $1.5 billion in equity capital to support its capital-intensive business.

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Plug Power securities during the Class Period to seek appointment as lead plaintiff of the Plug Power class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Plug Power class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Plug Power class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Plug Power class action lawsuit. Lead plaintiff motions for the pending Plug Power class action litigation must be filed with the Court no later than May 21, 2024.

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About Hagens Berman

Hagens Berman is a global plaintiffs’ rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.

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