The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Plug Power Inc. (NASDAQ: PLUG) who purchased common stock between August 9, 2022 and March 1, 2023. The action, which was filed in the United States District Court for the District of Delaware, alleges that the Company violated federal securities laws.
In particular, the Plug lawsuit alleges that the Company 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. As a result, defendant’s statements about the Company’s business, operations, prospects, and ability to effectively manage its supply chain and production lacked a reasonable basis.
Shareholders have until June 12, 2023 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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