Kaplan Fox investigates potential title fraud at Plug Power

NEW YORK, April 5, 2021 (GLOBE NEWSWIRE) – Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) investigating claims on behalf of investors of Plug Power Inc. (“Plug Power” or the “Company”) (NASDAQ: PLUG). Plug Power claims to be a leading provider of clean hydrogen and zero emission fuel cell solutions. A complaint has been filed on behalf of investors who purchased or otherwise acquired securities of Plug Power between November 9, 2020 and March 1, 2021 (the “Class Period”).

On March 2, 2021, Plug Power filed a late filing notice with the SEC indicating that it could not timely file its annual report for the period ending December 31, 2020 because the Company was completing a “review and an assessment of the treatment of certain costs with respect to the classification between research and development versus costs of goods sold, the recoverability of right-of-use assets associated with certain leases and certain internal controls over these areas and d ‘others. Plug Power also stated that “[i]It is possible that one or more of these items will result in charges or adjustments to the financial statements for the current and / or previous period. “

As a result of this news, the Company’s share price fell $ 3.68 per share, or 7%, to close at $ 48.78 per share on March 2, 2021.

On March 16, 2021, after market close, Plug Power issued a press release announcing that it had found accounting errors and would restate its previously published financial statements for the years ended December 31, 2018 and 2019 and its quarterly filings for 2019 and 2020, which “should no longer be invoked”.

Following this news, shares of Plug Power fell $ 3.35 per share, or 7.85%, to close at $ 39.33 per share on March 17, 2021.

If you are a member of the proposed group, you can move the court no later than May 7, 2021 to serve as the principal applicant for the alleged class. You do not need to seek to become a principal applicant to participate in a potential recovery. If you want to discuss the complaint or our investigation, please contact us by email [email protected] or by calling (212) 329-8571.

This press release may be considered an attorney’s advertisement in certain jurisdictions under applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information on Kaplan Fox & Kilsheimer LLP, you can visit our website at www.kaplanfox.com. If you have any questions about this Notice, your rights or your interests, please contact:

Jeffrey P. Campisi
KAPLAN FOX & KILSHEIMER srl
850 Third Avenue, 14th Floor
New York, New York 10022
(212) 329-8571
E-mail: [email protected]

Laurence D. King
KAPLAN FOX & KILSHEIMER srl
1999 Harrison Street, Suite 1560
Oakland, CA 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: [email protected]

Alan A. Seibert