Plug Power under investigation
A class action lawsuit alleges false and misleading statements to investors and insider trading
A consolidated class action securities lawsuit has been launched against US green hydrogen technology firm Plug Power, as well as CEO Andrew Marsh and CFO Paul Middleton. The lawsuit alleges false and misleading statements to investors, as well as insider trading. Plug Power is alleged to have carried out “a long-running scheme to misclassify the cost of liquid hydrogen delivered to customers” in an effort to inflate the company’s perceived profitability, according to law firm Schubert Jonckheer & Kolbe. Although Plug Power had restated prior-period financial statements from 2018-20 to address the misclassification, in addition to disclosing a material weakness in internal controls and i
Also in this section
13 March 2025
Government awards €1.21b of funding to seven large-scale projects as it chases capacity target of 12GW by 2030
12 March 2025
Speakers at this year’s CERAWeek conference noted the growing interest in green hydrogen, but hurdles such as cost remain to its adoption at scale
11 March 2025
A reassessment of clean hydrogen’s growth trajectory is underway, but the energy vector’s long-term potential to decarbonise remains intact
10 March 2025
Collaboration has become crucial to success as projects turn out to be more complex and expensive than previously thought, industry figures tell Dubai conference
