PLUG Investor Alert: Plug Power Inc. Securities Fraud Class Action Focuses on DOE Funding Issues; BFA Law Notifies Investors of April 3 Court 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][4]. Group 1: Lawsuit Details - Investors have until April 3, 2026, to request to lead the case, which is pending in the U.S. District Court for the Northern District of New York [4][10]. - The lawsuit asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of Plug Power investors [4]. Group 2: Allegations Against Plug Power - Plug Power is accused of materially overstating the likelihood of receiving a $1.66 billion loan guarantee from the U.S. Department of Energy, which was intended to finance the construction of hydrogen production facilities [5]. - The company provides hydrogen fuel cell solutions and develops infrastructure for hydrogen production [5]. Group 3: Stock Performance and Impact - Following the announcement of the abrupt departure of CEO Andrew Marsh and President Sanjay Shrestha on October 7, 2025, Plug Power's stock dropped by $0.26 per share, or 6.3% [6]. - On November 10, 2025, the suspension of activities under the DOE loan program led to a further stock decline of $0.09 per share, or 3.4% [7]. - A report on November 13, 2025, confirming the suspension of plans to construct hydrogen facilities resulted in a significant stock drop of $0.48 per share, or 17.6% [8].