Schubert Jonckheer & Kolbe represents shareholders, employees, and consumers in class actions against corporate defendants, as well as shareholders in derivative actions against their officers and directors. If you own stock in Plug Power and wish to obtain additional information about your legal rights, please contact us today or visit our website at. The Schubert Firm is investigating potential breaches of fiduciary duty by Plug Power's officers and directors in connection with these allegations. Plug Power’s vertically-integrated GenKey solution ties together all critical elements to power, fuel, and provide service to customers such as Amazon, BMW, The. The company also conducted two lucrative secondary offerings in November 2020 and February 2021, together netting approximately $3 billion of additional capital on the basis of these allegedly false and misleading statements. Plug Power delivers a significant value proposition to end-customers, including meaningful environmental benefits, efficiency gains, fast fueling, and lower operational costs. Middleton sold approximately $45 million of their personal holdings of Plug Power stock alongside several other high-level insiders, including at least six directors and the company's General Counsel and COO. Stay up to date on the latest stock price, chart, news, analysis, fundamentals, trading and investment tools. At the same time, Plug Power also disclosed a material weakness in internal controls and announced that the company's improper accounting practices, allegedly uncovered by a new auditor, dated back to 2016. On May 14, 2021, the company restated several prior-period financial statements from 2018 through the third quarter of 2020 to address the misclassification. Specifically, among other things, the company and its officers are alleged to have carried out a long-running scheme to misclassify the cost of liquid hydrogen delivered to customers, thus inflating the perceived profitability of Plug Power's core business. District Court for the Southern District of New York alleging they made false and misleading statements to investors concerning the profitability of the company's hydrogen fuel cell business. Plug Power and its CEO and CFO, Andrew Marsh and Paul Middleton, are currently subject to a consolidated class action securities lawsuit in the U.S. (NASDAQ: PLUG) relating to possible false and misleading statements to investors and significant insider trading by several officers and directors. 13, 2022 /PRNewswire/ - Schubert Jonckheer & Kolbe LLP is investigating potential derivative claims on behalf of shareholders of Plug Power Inc. US electrolyser manufacturer Plug Power is to build a 100MW green hydrogen plant in the Belgian port of Antwerp-Bruges likely becoming one of Northern Europe’s largest when it comes on line in 2025 and forming the opening play of the port’s plan to become a hydrogen hub for Europe.
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