Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Plug Power Inc. (PLUG)
NEW YORK, March 09, 2021 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Plug Power Inc. (“Plug Power”) (NASDAQ: PLUG) in the United States District Court for the Southern District of New York on behalf of those who purchased or acquired the securities of Plug Power between November 9, 2020 and March 1, 2021, inclusive (the “Class Period”). The lawsuit seeks to recover damages for investors under the federal securities laws.
The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose 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. When the true details entered the market, the lawsuit claims that investors suffered damages.
Investors who purchased or otherwise acquired shares of Plug Power during the Class Period should contact the Firm prior to the May 7, 2021 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
Please visit our website at http://www.gme-law.com for more information about the firm.
