Plug Power Investor Alert: Kaplan Fox Investigates

NEW YORK, April 09, 2021 (GLOBE NEWSWIRE) — Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) investigates 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 stating 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 classification between research and development versus cost of goods sold, recoverability of right-of-use assets associated with certain leases, and certain internal controls over these areas; and others. Plug Power also stated that “[i]It is possible that one or more of these items will result in charges or an adjustment to the current and/or prior period financial statements. »

As a result of this news, the Company’s stock 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 issued financial statements for the years ended December 31, 2018 and 2019 and its quarterly filings for 2019 and 2020. , on which “we must no longer count”.

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 class, you can move the court no later than May 7, 2021 serve as the lead plaintiff for the alleged class. You do not need to seek to become a primary plaintiff in order to participate in a possible recovery. If you wish 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 attorney advertising in certain jurisdictions under applicable law and ethics rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience pursuing investor class actions. For more information about 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 LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(212) 329-8571
E-mail: [email protected]

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

Alan A. Seibert