Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Plug Power Inc. (PLUG)

Shareholders with a loss of $ 100,000 or more are encouraged to contact the company

Glancy Prongay & Murray LLP (“GPM”) is reminding investors of the upcoming May 7, 2021 deadline to file a lead plaintiff motion in the class action lawsuit filed on behalf of investors, Plug Power Inc. (“Plug” or the securities “Company”) (NASDAQ: PLUG) between November 9, 2020 and March 1, 2021 inclusive (the “Class Period”).

If you have suffered a loss on your plug investments or would like to inquire about whether you may be able to make claims to recover your loss under federal securities laws, you can find your contact information at https://www.glancylaw.com/cases / submit plug-power -inc /. You can also contact Charles H. Linehan of GPM at 310-201-9150, toll free at 888-773-9224, or by email at Shareholder@glancylaw.com to learn more about your rights.

On March 2, 2021, before the market opened, Plug filed a late filing notice with the SEC advising that the annual report for the period ended December 31, 2020 could not be filed on time because the Company conducted a “review and evaluation of” the treatment of certain costs in terms of the classification between research and development versus the cost of goods sold, the recoverability of usage rights related to certain leases, and certain internal controls in these and other areas. “The company stated that”[i]It is possible that one or more of these items lead to charges or adjustments to the current and / or the previous year’s financial statements. “

In that news, the company’s share price fell $ 3.68, or 7%, to close at $ 48.78 per share on March 2, 2021 in an unusually high trading volume. The stock price fell further $ 9.48, or 19.4%, for three consecutive trading sessions, closing at $ 39.30 per share on March 5, 2021 with an unusually high trading volume.

The complaint filed in this class action alleges that, throughout the collection period, the defendants made materially false and / or misleading statements and did not disclose material adverse facts about the company’s business, business and prospects. Specifically, Defendants have failed to notify investors: (1) that the Company is unable to submit its 2020 Annual Report in a timely manner due to delays related to the review of the classification of certain costs and the recoverability of the right to use assets with certain leases; (2) that the company has reported material weaknesses in its internal control over financial reporting with a sufficient degree of probability; and (3) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations and prospects were materially misleading and / or unfounded.

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If you purchased or otherwise acquired Plug securities during the class period, you may request the court to appoint you as the lead plaintiff in this alleged class action no later than May 7, 2021. To be a member of the class action, you do not need to take any action at this point. You can keep an attorney of your choice or you can take no action and remain an absent member of the class action. If you would like to learn more about this class action or have any questions about this announcement or your rights or interests in relation to the pending class action, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, toll free at 888-773-9224, email shareholders@glancylaw.com, or visit our website at www.glancylaw.com. When inquiring by email, please include your postal address, telephone number and the number of shares purchased.

This press release may be viewed as a solicitor’s advertisement in some jurisdictions under applicable laws and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210315005137/de/

contacts

Glancy Prongay & Murray LLP, Los Angeles
Charles Linehan, 310-201-9150 or 888-773-9224
Shareholders@glancylaw.com
www.glancylaw.com

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