On October 14, 2022, Plug Power announced that its "prior full year 2022 revenue guidance of $900-925M could be 5%-10% lower for the year" and attributed this revised guidance to "some larger projects potentially being completed in 2023 instead of 2022 due to timing and broader supply chain issues." On this news, the price of Plug Power common stock declined more than 6%. The Plug Power class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that Plug Power was unable to effectively manage its supply chain and product manufacturing, resulting in reduced revenues and margins, increased inventory levels, and several large deals being delayed until at least 2023, among other issues. ĬASE ALLEGATIONS: Plug Power is a hydrogen fuel cell company that develops power systems for use in electric vehicles, stationary power units, and other purposes. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at. If you suffered substantial losses and wish to serve as lead plaintiff of the Plug Power class action lawsuit, please provide your information here: Del.), the Plug Power class action lawsuit charges Plug Power as well as certain of Plug Power's top executives with violations of the Securities Exchange Act of 1934. (NASDAQ:PLUG) common stock between Augand March 1, 2023, all dates inclusive (the "Class Period") have until Jto seek appointment as lead plaintiff of the Plug Power class action lawsuit. Prior results do not guarantee a similar outcome.SAN DIEGO, CA / ACCESSWIRE / J/ Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Plug Power Inc. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.įollow us for updates on LinkedIn:, on Twitter: or on Facebook. You may also remain an absent class member and do nothing at this point. Until a class is certified, you are not represented by counsel unless you retain one. toll-free at 86 or email or for information on the class action. To join the Plug Power class action, go to or call Phillip Kim, Esq. When the true details entered the market, the lawsuit claims that investors suffered damages. As a result, defendants' statements about Plug Power's business, operations, prospects, and ability to effectively manage its supply chain and production lacked a reasonable basis. Specifically, defendants misrepresented and/or failed to disclose that Plug was unable to effectively manage its supply chain and product manufacturing, resulting in reduced revenues and margins, increased inventory levels, and several large deals being delayed until at least 2023, among other issues. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.ĭETAILS OF THE CASE: The lawsuit alleges that, throughout the Class Period, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts, about Plug's business and operations. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. In 2019 alone the firm secured over $438 million for investors. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to serve as lead plaintiff, you must move the Court no later than June 12, 2023. A class action lawsuit has already been filed. WHAT TO DO NEXT: To join the Plug Power class action, go to or call Phillip Kim, Esq. SO WHAT: If you purchased Plug Power common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. (NASDAQ: PLUG) between Augand March 1, 2023, both dates inclusive (the "Class Period") of the important Jlead plaintiff deadline. June 1, 2023) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of Plug Power Inc.
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