Plug Power(US:PLUG) TMX Newsfile·2026-02-07 13:56Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Plug Power Inc. due to allegations of violations of federal securities laws, particularly concerning misleading statements about funding and project viability [2][4]. Group 1: Legal Investigation and Claims - The law firm is encouraging investors who suffered losses in Plug Power between January 17, 2025, and November 13, 2025, to discuss their legal options [1]. - There is a deadline of April 3, 2026, for investors to seek the role of lead plaintiff in a federal securities class action against Plug Power [2]. - The firm has a history of recovering hundreds of millions of dollars for investors since its founding in 1995 [3]. Group 2: Allegations Against Plug Power - The complaint alleges that Plug Power and its executives made false and misleading statements regarding the availability of funds from the DOE Loan and the construction of hydrogen production facilities [4]. - It is claimed that Plug Power was likely to pivot towards less ambitious projects, which was not disclosed to investors [4]. Group 3: Executive Changes and Market Reaction - On October 7, 2025, Plug Power announced the resignation of CEO Andrew Marsh and President Sanjay Shrestha, with Jose Luis Crespo appointed to both roles, which raised concerns about the company's stability [5]. - Following the announcement of executive changes, Plug Power's stock price fell by $0.26 per share, or 6.29%, closing at $3.87 [6]. - On November 10, 2025, Plug Power reported financial results indicating a significant pivot in strategy, including the suspension of activities under the DOE loan program, which had not been previously disclosed [7]. - This news led to a further decline in stock price, falling by $0.09 per share, or 3.39%, to close at $2.53 [8]. Group 4: Further Declines and Project Suspension - On November 13, 2025, it was reported that Plug Power confirmed the suspension of plans to construct six hydrogen production facilities, jeopardizing a $1.66 billion DOE Loan [8]. - Following this confirmation, Plug Power's stock price dropped by $0.48 per share, or 17.58%, closing at $2.25 [9].