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PLUG CLASS ACTION: Plug Power Investors with Significant Losses Should Contact Robbins LLP for Information About Recovering Their Losses
Prnewswire· 2026-02-20 21:08
Core Viewpoint - A class action lawsuit has been filed against Plug Power Inc. for allegedly misleading investors regarding its ability to secure and utilize a $1.66 billion loan from the U.S. Department of Energy (DOE) [1] Group 1: Allegations and Financial Impact - The lawsuit claims that Plug Power overstated the likelihood of receiving funds from the DOE loan and the construction of necessary hydrogen production facilities [1] - On November 10, 2025, Plug Power announced a suspension of activities under the DOE loan program, leading to a stock price drop of $0.09 per share, or 3.39%, closing at $2.53 per share [1] - Following a report on November 13, 2025, confirming the suspension of plans for hydrogen facilities, Plug Power's stock fell by $0.48 per share, or 17.58%, closing at $2.25 per share [1] Group 2: Class Action Participation - Shareholders may be eligible to participate in the class action and must file their papers by April 3, 2026, to serve as lead plaintiff [1] - Participation in the case is not required to be eligible for recovery, and all representation is on a contingency fee basis [1] Group 3: Company Overview - Plug Power specializes in hydrogen fuel cell solutions for electric mobility and stationary power markets in North America and Europe, including hydrogen storage and production equipment [1]