Plug Power Investors Face Class Action Over Alleged Misstatements on DOE-Backed Hydrogen Strategy

2026-02-23 00:44:20

A securities class action lawsuit has been filed against Plug Power Inc., alleging the company misled investors about its hydrogen production facility construction plans and capacity needed to secure Department of Energy loan funding. The complaint claims that Plug Power’s public statements from January 17, 2025, to November 13, 2025, overstated the potential of these projects and that the company was more likely to pursue less commercially viable initiatives, leading to investor losses when the alleged misrepresentations became apparent. The lawsuit centers on violations of the Securities Exchange Act and SEC Rule 10b-5, highlighting the legal and reputational challenges for Plug Power in the hydrogen sector.

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