PLUG CLASS ACTION ALERT: Plug Power Inc. Hit Sued for Securities Fraud over DOE Funding Issues – Investors Notified to Contact BFA Law by April 3 Class Action Deadline

Core Viewpoint - A class action lawsuit has been filed against Plug Power Inc. and certain senior executives for securities fraud following significant stock drops attributed to potential violations of federal securities laws [1][3]. Group 1: Lawsuit Details - The lawsuit is pending in the U.S. District Court for the Northern District of New York, titled Ortolani v. Plug Power Inc., et al., No. 1:26-cv-00165 [3]. - Investors have until April 3, 2026, to request to be appointed to lead the case [3]. Group 2: Company Background - Plug Power specializes in hydrogen fuel cell turnkey solutions for electric mobility and stationary power markets, and develops infrastructure such as hydrogen production plants [4]. Group 3: Financial Events Leading to Stock Drops - On October 7, 2025, Plug Power announced the departure of CEO Andrew Marsh and President Sanjay Shrestha, resulting in a stock price drop of $0.26 per share, or 6.3%, from $4.13 to $3.87 [5]. - On November 10, 2025, the company suspended activities under the DOE loan program, causing a further drop of $0.09 per share, or 3.4%, from $2.65 to $2.56 [6]. - On November 13, 2025, it was reported that Plug Power confirmed the suspension of plans to construct six hydrogen production facilities, leading to a stock price decline of $0.48 per share, or 17.6%, from $2.49 to $2.25 [7]. Group 4: Allegations of Misrepresentation - The lawsuit alleges that Plug Power materially overstated the likelihood of receiving DOE loan funds and the construction of necessary hydrogen production facilities [4].