Plug Power(US:PLUG) Prnewswire·2026-02-11 14:10Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Plug Power Inc. for alleged violations of federal securities laws, with a deadline for investors to seek lead plaintiff status by April 3, 2026 [1][2] Summary by Relevant Sections 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 [1][2] - It is claimed that the company overstated the likelihood of receiving DOE funds and that it would pivot to less ambitious projects, making public statements materially false and misleading [1][2] Executive Departures - On October 7, 2025, Plug Power announced the resignation of CEO Andrew Marsh and President Sanjay Shrestha, with Chief Revenue Officer Jose Luis Crespo appointed to both roles [1][2] - The abrupt departure of these executives occurred just one month before the expected release of the company's financial results, negatively impacting investor sentiment [1][2] Financial Results and Market Reaction - On November 10, 2025, Plug Power reported financial results for Q3 2025, announcing an expected liquidity of over $275 million after signing a nonbinding letter of intent to monetize electricity rights [1][2] - The company also stated it would suspend activities under the DOE loan program, which was a significant shift from previous guidance, leading to a stock price drop of $0.09 per share, or 3.39%, to close at $2.53 on November 11, 2025 [1][2] Suspension of Hydrogen Production Plans - 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 [1][2] - Following this news, Plug Power's stock price fell by $0.48 per share, or 17.58%, over the next two trading sessions, closing at $2.25 on November 14, 2025 [1][2]