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 shares between November 9, 2020 and March 1, 2021. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the Plug Power lawsuit alleges that (1) the Company would be unable to timely file its 2020 annual report due to delays related to the review of classification of certain costs and the recoverability of the right to use assets with certain leases; (2) the Company was reasonably likely to report material weaknesses in its internal control over financial reporting; and (3) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Shareholders have until May 7, 2021 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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